Lazard Asset Management LLC Decreases Holdings in Installed Building Products, Inc. (NYSE:IBP)

Lazard Asset Management LLC lessened its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,482 shares of the construction company’s stock after selling 266 shares during the period. Lazard Asset Management LLC owned about 0.15% of Installed Building Products worth $10,991,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IBP. NBC Securities Inc. bought a new position in Installed Building Products during the fourth quarter worth about $25,000. Russell Investments Group Ltd. boosted its position in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after purchasing an additional 101 shares during the period. Hexagon Capital Partners LLC boosted its position in Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after purchasing an additional 104 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Installed Building Products during the first quarter worth about $29,000. Finally, Annapolis Financial Services LLC boosted its position in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of 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. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research report on Friday, May 10th. Evercore ISI raised their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $300.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.70.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the transaction, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Installed Building Products Price Performance

IBP traded up $17.80 on Friday, reaching $265.53. The company had a trading volume of 426,959 shares, compared to its average volume of 339,141. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 30.04 and a beta of 1.93. Installed Building Products, Inc. has a 52-week low of $106.01 and a 52-week high of $266.30. The business has a 50 day simple moving average of $216.28 and a 200 day simple moving average of $222.45. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.67 and a current ratio of 3.18.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. The firm had revenue of $692.90 million for the quarter, compared to the consensus estimate of $676.60 million. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. As a group, sell-side analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, June 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

About Installed Building Products

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.