Lazard Asset Management LLC Takes $72,000 Position in Installed Building Products, Inc. (NYSE:IBP)

Lazard Asset Management LLC bought a new stake in Installed Building Products, Inc. (NYSE:IBPGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 868 shares of the construction company’s stock, valued at approximately $72,000.

Several other large investors have also modified their holdings of the stock. Aurora Investment Counsel boosted its holdings in shares of Installed Building Products by 1.6% in the 1st quarter. Aurora Investment Counsel now owns 7,450 shares of the construction company’s stock valued at $629,000 after buying an additional 115 shares in the last quarter. Texas Permanent School Fund boosted its stake in Installed Building Products by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 16,766 shares of the construction company’s stock worth $1,394,000 after purchasing an additional 128 shares during the period. ACR Alpine Capital Research LLC boosted its stake in Installed Building Products by 2.4% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 6,170 shares of the construction company’s stock worth $513,000 after purchasing an additional 144 shares during the period. Mutual of America Capital Management LLC boosted its stake in Installed Building Products by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,382 shares of the construction company’s stock worth $286,000 after purchasing an additional 175 shares during the period. Finally, Bank of Montreal Can boosted its stake in Installed Building Products by 2.6% during the 1st quarter. Bank of Montreal Can now owns 8,295 shares of the construction company’s stock worth $730,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Installed Building Products Stock Performance

Shares of IBP opened at $80.96 on Friday. The company has a 50-day simple moving average of $82.31 and a 200-day simple moving average of $88.47. The company has a quick ratio of 2.00, a current ratio of 2.50 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $2.32 billion, a PE ratio of 12.79 and a beta of 1.72. Installed Building Products, Inc. has a 52-week low of $69.44 and a 52-week high of $141.43.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 31st. Stockholders of record on Thursday, December 15th will be issued a $0.315 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.56%. Installed Building Products’s dividend payout ratio is presently 19.91%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IBP shares. Stephens increased their price target on shares of Installed Building Products from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Zelman & Associates cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. BTIG Research cut shares of Installed Building Products from a “buy” rating to a “neutral” rating in a research note on Friday, August 5th. StockNews.com cut shares of Installed Building Products from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group reduced their target price on shares of Installed Building Products from $108.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average target price of $97.50.

Installed Building Products Company Profile

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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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

See Also

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Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)

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