Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 0.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 42,482 shares of the construction company’s stock after selling 266 shares during the period. Lazard Asset Management LLC’s holdings in Installed Building Products were worth $10,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of Installed Building Products during the 4th quarter worth about $25,000. Russell Investments Group Ltd. raised its position in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products during the 1st quarter worth approximately $29,000. Finally, Annapolis Financial Services LLC grew its stake in Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Insider Activity

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

Installed Building Products Price Performance

Shares of NYSE IBP traded up $17.80 during trading on Friday, reaching $265.53. The company had a trading volume of 426,959 shares, compared to its average volume of 339,141. Installed Building Products, Inc. has a twelve month low of $106.01 and a twelve month high of $266.30. The stock has a market capitalization of $7.55 billion, a PE ratio of 30.04 and a beta of 1.93. The stock has a 50-day moving average price of $216.28 and a two-hundred day moving average price of $222.45. The company has a current ratio of 3.18, a quick ratio of 2.67 and a debt-to-equity ratio of 1.25.

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

Installed Building Products Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, June 14th. Installed Building Products’s dividend payout ratio is currently 15.84%.

Wall Street Analyst Weigh In

IBP has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Installed Building Products from $300.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI raised their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Loop Capital raised their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada raised their price target on Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group raised their price target on Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.70.

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.