MetLife Investment Management LLC Decreases Stock Position in Installed Building Products, Inc. (NYSE:IBP)

MetLife Investment Management LLC cut its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,540 shares of the construction company’s stock after selling 281 shares during the period. MetLife Investment Management LLC’s holdings in Installed Building Products were worth $3,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IBP. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. raised its stake in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. CWM LLC raised its stake in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Installed Building Products in the 3rd quarter valued at about $111,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on IBP shares. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. DA Davidson cut their target price on shares of 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. Evercore ISI upped their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $253.70.

Installed Building Products Stock Down 0.4 %

IBP opened at $223.29 on Wednesday. The firm has a 50 day moving average price of $229.07 and a 200 day moving average price of $222.90. The company has a market cap of $6.28 billion, a PE ratio of 24.81 and a beta of 1.93. Installed Building Products, Inc. has a 1 year low of $152.06 and a 1 year high of $281.04. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

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.