Short Interest in Installed Building Products, Inc. (NYSE:IBP) Decreases By 7.7%

Installed Building Products, Inc. (NYSE:IBP) saw a significant decrease in short interest during 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 daily volume of 273,300 shares, the days-to-cover ratio is currently 6.1 days. Approximately 7.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of recent research reports. Truist Financial lifted their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $203.00 to $197.00 in a report on Friday, November 8th. Finally, DA Davidson lowered their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $252.30.

Installed Building Products Price Performance

Installed Building Products stock opened at $206.95 on Wednesday. The stock has a market capitalization of $5.82 billion, a P/E ratio of 22.99 and a beta of 1.95. The company’s fifty day moving average price is $230.78 and its 200 day moving average price is $223.76. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a 1 year low of $141.14 and a 1 year high of $281.04.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 0.68%. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IBP. TD Private Client Wealth LLC boosted its holdings in Installed Building Products by 15.3% in 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 lifted its position in shares of 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 valued at $3,963,000 after acquiring an additional 8,815 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Installed Building Products in the third quarter worth approximately $203,000. Geode Capital Management LLC increased its position in shares of Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Installed Building Products by 61.9% during the third quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock worth $24,063,000 after purchasing an additional 37,347 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.