Installed Building Products, Inc. (NYSE:IBP) Short Interest Update

Installed Building Products, Inc. (NYSE:IBP) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 1,220,000 shares, a growth of 14.0% from the November 30th total of 1,070,000 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 284,100 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares in the last quarter. FMR LLC raised its position in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares during the period. Vaughan Nelson Investment Management L.P. increased its position 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 purchasing an additional 20,155 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 period. Institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. DA Davidson dropped their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group upped their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Price Performance

NYSE:IBP traded up $0.77 on Wednesday, reaching $175.25. 196,875 shares of the company’s stock traded hands, compared to its average volume of 291,344. The stock has a 50-day simple moving average of $208.34 and a 200-day simple moving average of $220.14. Installed Building Products has a 12 month low of $168.08 and a 12 month high of $281.04. The firm has a market cap of $4.93 billion, a PE ratio of 19.47 and a beta of 1.93. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.80%. Installed Building Products’s payout ratio is 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.