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

Installed Building Products, Inc. (NYSE:IBP) saw a significant growth in short interest in 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 stock are short sold. Based on an average daily trading volume, of 348,700 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently modified their holdings of the stock. Curio Wealth LLC acquired a new position in Installed Building Products during the fourth quarter valued at approximately $30,000. McIlrath & Eck LLC lifted its position in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after buying an additional 61 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares in the last quarter. Finally, Quarry LP lifted its position in Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Trading Up 1.3 %

Shares of NYSE IBP traded up $2.30 during midday trading on Thursday, reaching $175.96. 176,279 shares of the stock were exchanged, compared to its average volume of 308,830. The company has a market capitalization of $4.88 billion, a P/E ratio of 19.55 and a beta of 2.05. Installed Building Products has a 52-week low of $159.77 and a 52-week 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 has a 50 day moving average price of $182.21 and a 200-day moving average price of $204.43.

Installed Building Products Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IBP shares. Loop Capital decreased 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, March 4th. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn downgraded 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 target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Benchmark dropped their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus target price of $219.40.

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.