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

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,670,000 shares, a decrease of 7.7% from the October 15th total of 1,810,000 shares. Based on an average trading volume of 273,300 shares, the days-to-cover ratio is presently 6.1 days. Approximately 7.1% of the shares of the company are short sold.

Installed Building Products Stock Performance

IBP opened at $200.02 on Monday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 22.22 and a beta of 1.95. Installed Building Products has a 52-week low of $138.37 and a 52-week high of $281.04. The firm’s fifty day simple moving average is $230.77 and its two-hundred day simple moving average is $224.15.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently modified their holdings of IBP. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products in the first quarter worth about $29,000. Russell Investments Group Ltd. lifted its stake in shares of Installed Building Products by 13,898.5% in the first quarter. Russell Investments Group Ltd. now owns 19,178 shares of the construction company’s stock worth $4,962,000 after buying an additional 19,041 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Installed Building Products by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,775 shares of the construction company’s stock worth $1,235,000 after buying an additional 327 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Installed Building Products by 25.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 8,456 shares of the construction company’s stock worth $2,188,000 after buying an additional 1,690 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Installed Building Products in the first quarter worth about $17,806,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on IBP shares. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group raised their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $252.30.

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.