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

MetLife Investment Management LLC lessened its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 13,540 shares of the construction company’s stock after selling 281 shares during the quarter. MetLife Investment Management LLC’s holdings in Installed Building Products were worth $3,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its holdings in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares during the period. Swedbank AB boosted its holdings in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Installed Building Products by 6.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after buying an additional 20,155 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Installed Building Products by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock valued at $68,065,000 after buying an additional 21,942 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after buying an additional 4,943 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

IBP stock opened at $223.29 on Wednesday. Installed Building Products, Inc. has a 12-month low of $152.06 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 50 day simple moving average is $229.07 and its 200 day simple moving average is $222.90. The firm has a market cap of $6.28 billion, a P/E ratio of 24.81 and a beta of 1.93.

Installed Building Products Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on IBP shares. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday. Evercore ISI increased their target price on 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, DA Davidson reduced their target price on 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $253.70.

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.