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

Installed Building Products, Inc. (NYSE:IBP) was the recipient 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. Based on an average daily trading volume, of 348,700 shares, the short-interest ratio is currently 4.9 days. Approximately 7.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

IBP has been the topic of several research analyst reports. Truist Financial reduced their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Benchmark reduced their price objective 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. 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 research note on Friday, November 22nd. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, DA Davidson reduced their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $219.40.

Installed Building Products Stock Up 1.4 %

IBP stock traded up $2.44 during midday trading on Wednesday, hitting $174.00. 296,194 shares of the company’s stock were exchanged, compared to its average volume of 308,815. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products has a 12-month low of $159.77 and a 12-month high of $281.04. The firm has a 50 day moving average price of $182.24 and a 200-day moving average price of $204.65. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.33 and a beta of 2.05.

Installed Building Products Increases Dividend

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

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. Curio Wealth LLC purchased a new stake in Installed Building Products during the 4th quarter worth approximately $30,000. McIlrath & Eck LLC increased its holdings in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.