Installed Building Products, Inc. (NYSE:IBP) Short Interest Up 17.2% in February

Installed Building Products, Inc. (NYSE:IBP) saw a large increase in short interest in 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. Approximately 7.3% of the shares of the company are sold short. Based on an average daily volume of 348,700 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Curio Wealth LLC bought a new stake in shares of Installed Building Products in the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. raised its holdings in 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 in the last quarter. McIlrath & Eck LLC lifted its position in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares during the period. Quarry LP grew its holdings in shares of Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the period. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Loop Capital reduced their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Benchmark reduced their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $219.40.

Installed Building Products Trading Up 0.8 %

Shares of Installed Building Products stock opened at $175.03 on Friday. 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 firm has a 50-day moving average of $182.19 and a 200-day moving average of $204.23. Installed Building Products has a 52-week low of $159.77 and a 52-week high of $281.04. The stock has a market cap of $4.86 billion, a PE ratio of 19.45 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 $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.85%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

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.