Pembroke Management LTD Has $29.53 Million Holdings in Installed Building Products, Inc. $IBP

Key Points

• Pembroke Management LTD increased its stake in Installed Building Products, Inc. (IBP) by 11.6% during Q1 2023, owning 172,222 shares valued at approximately $29.5 million.
• Installed Building Products reported an earnings per share (EPS) of $2.95 for the last quarter, exceeding estimates by $0.50, with revenue of $760.3 million.
• The company announced a quarterly dividend of $0.37 per share, with the payout expected on September 30th, resulting in a 0.6% dividend yield.

Pembroke Management LTD grew its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,222 shares of the construction company's stock after purchasing an additional 17,887 shares during the quarter. Installed Building Products makes up approximately 4.4% of Pembroke Management LTD's portfolio, making the stock its 3rd largest holding. Pembroke Management LTD owned 0.62% of Installed Building Products worth $29,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Installed Building Products by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company's stock valued at $458,024,000 after purchasing an additional 34,512 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Installed Building Products by 28.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company's stock valued at $90,905,000 after buying an additional 117,810 shares during the last quarter. Giverny Capital Inc. boosted its holdings in shares of Installed Building Products by 0.7% in the 1st quarter. Giverny Capital Inc. now owns 508,073 shares of the construction company's stock valued at $87,114,000 after buying an additional 3,338 shares during the last quarter. Timucuan Asset Management Inc. FL bought a new position in Installed Building Products during the first quarter worth $85,786,000. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of Installed Building Products by 15.0% during the first quarter. Van Berkom & Associates Inc. now owns 429,458 shares of the construction company's stock worth $73,635,000 after buying an additional 56,000 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBP. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Danske lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Loop Capital lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a research report on Friday, August 8th. Jefferies Financial Group raised their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Finally, Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of "Hold" and a consensus target price of $217.36.

Installed Building Products Stock Performance

Shares of IBP traded down $2.18 during mid-day trading on Tuesday, reaching $259.64. The company had a trading volume of 382,914 shares, compared to its average volume of 442,825. The stock has a 50 day moving average of $221.23 and a two-hundred day moving average of $186.27. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $278.74. The stock has a market capitalization of $7.10 billion, a P/E ratio of 28.88 and a beta of 1.76. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. On average, analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. Installed Building Products's dividend payout ratio is currently 16.46%.

Insider Activity at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the completion of the transaction, the chief operating officer owned 8,736 shares in the company, valued at $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock worth $3,123,578 over the last quarter. 16.20% of the stock is currently owned by insiders.

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.