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

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

Analyst Upgrades and Downgrades

IBP has been the subject of a number of research analyst reports. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Truist Financial reduced their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Benchmark reduced their price objective on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Loop Capital reduced their price objective on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus price target of $219.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its position in Installed Building Products by 121.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after acquiring an additional 8,815 shares during the period. Summit Partners Public Asset Management LLC bought a new position in Installed Building Products during the third quarter valued at about $54,499,000. Natixis Advisors LLC boosted its stake in Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after buying an additional 4,451 shares in the last quarter. Citigroup Inc. boosted its stake in Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after buying an additional 16,569 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after buying an additional 23,179 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

IBP stock traded up $2.44 during trading on Wednesday, reaching $174.00. 296,194 shares of the company’s stock were exchanged, compared to its average volume of 308,815. 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 has a 1-year low of $159.77 and a 1-year high of $281.04. The company’s fifty day moving average price is $182.24 and its 200-day moving average price is $204.65. The firm has a market cap of $4.83 billion, a PE ratio of 19.33 and a beta of 2.05.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is 16.26%.

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.