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

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a large 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 short-interest ratio is currently 3.9 days. Currently, 4.5% of the company’s shares are short sold.

Analysts Set New Price Targets

IBP has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted 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. Jefferies Financial Group upped their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $238.00 to $206.00 in a report on Monday. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Down 1.7 %

IBP traded down $3.30 on Monday, reaching $195.20. The company’s stock had a trading volume of 268,634 shares, compared to its average volume of 291,329. 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 fifty-two week low of $168.08 and a fifty-two week high of $281.04. The stock has a 50 day moving average of $223.81 and a two-hundred day moving average of $222.97. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 21.69 and a beta of 1.93.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.72%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Installed Building Products during the third quarter worth approximately $54,499,000. Wellington Management Group LLP acquired a new stake in Installed Building Products during the 3rd quarter worth $34,635,000. Millennium Management LLC grew its position in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after purchasing an additional 114,259 shares during the last quarter. Finally, State Street Corp increased its stake in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.