New York Life Investment Management LLC Sells 226 Shares of Installed Building Products, Inc. (NYSE:IBP)

New York Life Investment Management LLC trimmed its position in Installed Building Products, Inc. (NYSE:IBP) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,509 shares of the construction company’s stock after selling 226 shares during the period. New York Life Investment Management LLC’s holdings in Installed Building Products were worth $440,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IBP. Wealth Enhancement Advisory Services LLC bought a new position in Installed Building Products in the 3rd quarter valued at $414,000. Nisa Investment Advisors LLC boosted its position in Installed Building Products by 6.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,577 shares of the construction company’s stock valued at $881,000 after buying an additional 201 shares during the last quarter. US Bancorp DE boosted its position in Installed Building Products by 148.4% in the 3rd quarter. US Bancorp DE now owns 2,809 shares of the construction company’s stock valued at $692,000 after buying an additional 1,678 shares during the last quarter. New York State Common Retirement Fund boosted its position in Installed Building Products by 29.3% in the 3rd quarter. New York State Common Retirement Fund now owns 92,077 shares of the construction company’s stock valued at $22,676,000 after buying an additional 20,860 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Installed Building Products by 9.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $439,000 after purchasing an additional 160 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IBP shares. JPMorgan Chase & Co. increased their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson cut their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $166.18 on Wednesday. The company has a market capitalization of $4.68 billion, a PE ratio of 18.46 and a beta of 1.99. Installed Building Products, Inc. has a 12 month low of $159.76 and a 12 month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock’s fifty day simple moving average is $182.67 and its 200 day simple moving average is $207.99.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Installed Building Products 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.