Short Interest in Installed Building Products, Inc. (NYSE:IBP) Decreases By 6.1%

Installed Building Products, Inc. (NYSE:IBP) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,070,000 shares, a drop of 6.1% from the November 15th total of 1,140,000 shares. Based on an average daily volume of 277,800 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.5% of the company’s shares are short sold.

Analyst Ratings Changes

Several research firms recently weighed in on IBP. JPMorgan Chase & Co. lifted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday. DA Davidson reduced their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $247.10.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after purchasing an additional 22,367 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Installed Building Products in the third quarter worth about $353,000. TD Private Client Wealth LLC grew its stake in Installed Building Products by 15.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock worth $255,000 after buying an additional 137 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Installed Building Products by 121.1% in the third 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 buying an additional 8,815 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Installed Building Products during the third quarter worth about $203,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

IBP stock traded down $2.58 during trading on Tuesday, reaching $192.62. 105,736 shares of the company were exchanged, compared to its average volume of 290,540. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock’s 50 day moving average price is $222.97 and its 200 day moving average price is $222.87. Installed Building Products has a 52-week low of $168.08 and a 52-week high of $281.04. The company has a market cap of $5.42 billion, a P/E ratio of 21.54 and a beta of 1.93.

Installed Building Products Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.73%. Installed Building Products’s payout ratio is currently 15.56%.

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.