Installed Building Products, Inc. (NYSE:IBP) Sees Significant Increase in Short Interest

Installed Building Products, Inc. (NYSE:IBP) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,700,000 shares, an increase of 17.2% from the February 13th total of 1,450,000 shares. Currently, 7.3% of the company’s shares are short sold. Based on an average daily volume of 348,700 shares, the short-interest ratio is currently 4.9 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IBP shares. Benchmark decreased their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. DA Davidson reduced their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Loop Capital reduced their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Stock Performance

Installed Building Products stock traded up $2.30 during mid-day trading on Thursday, reaching $175.96. 176,279 shares of the company were exchanged, compared to its average volume of 308,830. The firm’s 50-day simple moving average is $182.21 and its two-hundred day simple moving average is $204.43. Installed Building Products has a twelve month low of $159.77 and a twelve month high of $281.04. The firm has a market cap of $4.88 billion, a PE ratio of 19.55 and a beta of 2.05. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, March 14th. Installed Building Products’s payout ratio is currently 16.26%.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently bought and sold shares of IBP. Vanguard Group Inc. raised its holdings in Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares in the last quarter. State Street Corp raised its stake in shares of Installed Building Products by 8.4% during 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. FIL Ltd lifted its holdings in shares of Installed Building Products by 14.0% in the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after buying an additional 127,215 shares during the period. FMR LLC boosted its stake in shares of Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after acquiring an additional 10,553 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Company 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.