Pembroke Management LTD Sells 16,946 Shares of Installed Building Products, Inc. (NYSE:IBP)

Pembroke Management LTD trimmed its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 9.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 154,335 shares of the construction company’s stock after selling 16,946 shares during the period. Installed Building Products makes up approximately 3.4% of Pembroke Management LTD’s holdings, making the stock its 8th biggest holding. Pembroke Management LTD’s holdings in Installed Building Products were worth $27,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of IBP. State Street Corp grew its position in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares during the last quarter. FMR LLC increased its stake in Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares during the period. Geode Capital Management LLC raised its holdings in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after buying an additional 83,205 shares in the last quarter. Finally, Swedbank AB lifted its stake in Installed Building Products by 26.4% during the fourth quarter. Swedbank AB now owns 330,000 shares of the construction company’s stock valued at $57,832,000 after purchasing an additional 69,000 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. DA Davidson lowered their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, The Goldman Sachs Group cut their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $240.40.

Installed Building Products Stock Performance

NYSE IBP opened at $178.09 on Tuesday. The company has a market capitalization of $5.01 billion, a P/E ratio of 19.79 and a beta of 1.99. The company has a fifty day moving average of $187.49 and a 200-day moving average of $211.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 52-week low of $169.02 and a 52-week high of $281.04.

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.