Pembroke Management LTD Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

Pembroke Management LTD lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,364 shares of the construction company's stock after selling 12,423 shares during the quarter. Installed Building Products accounts for 4.9% of Pembroke Management LTD's investment portfolio, making the stock its 2nd largest holding. Pembroke Management LTD owned 0.61% of Installed Building Products worth $35,658,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company's stock worth $683,421,000 after acquiring an additional 18,890 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Installed Building Products by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company's stock worth $140,974,000 after buying an additional 5,359 shares in the last quarter. Giverny Capital Inc. grew its position in Installed Building Products by 5.2% during the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company's stock worth $83,261,000 after buying an additional 22,528 shares during the period. Swedbank AB increased its holdings in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company's stock valued at $85,357,000 after buying an additional 43,000 shares in the last quarter. Finally, Channing Capital Management LLC purchased a new position in Installed Building Products in the fourth quarter valued at about $58,696,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research reports. Benchmark upped their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, May 14th. Royal Bank of Canada raised their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the company a "sector perform" rating in a report on Friday, August 2nd. StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Thursday. Stephens reissued an "equal weight" rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price objective on Installed Building Products from $242.00 to $227.00 and set a "neutral" rating for the company in a research report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.20.

Installed Building Products Stock Up 1.0 %

Shares of NYSE IBP traded up $2.22 during trading on Monday, reaching $222.31. 158,800 shares of the stock were exchanged, compared to its average volume of 298,260. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 25.15 and a beta of 1.93. The business's 50-day moving average price is $223.52 and its 200 day moving average price is $227.95. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, equities analysts forecast that Installed Building Products, Inc. will post 11.14 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, September 13th. Installed Building Products's dividend payout ratio (DPR) is 15.84%.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.