Installed Building Products, Inc. (NYSE:IBP) Sees Large Decline in Short Interest

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,670,000 shares, a decline 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. Currently, 7.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently added to or reduced their stakes in the business. Diversified Trust Co increased its stake in shares of Installed Building Products by 2.3% during the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock valued at $416,000 after acquiring an additional 46 shares during the last quarter. CWM LLC raised its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Arkadios Wealth Advisors raised its stake in Installed Building Products by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after purchasing an additional 63 shares during the period. Xponance Inc. boosted its holdings in shares of Installed Building Products by 5.3% in the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 2.6 %

IBP stock opened at $205.15 on Tuesday. The company has a 50 day moving average price of $230.77 and a two-hundred day moving average price of $224.04. 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 stock has a market capitalization of $5.77 billion, a P/E ratio of 22.37 and a beta of 1.95. Installed Building Products has a one year low of $141.14 and a one year high of $281.04.

Installed Building Products Announces Dividend

The firm also recently disclosed 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

Analysts Set New Price Targets

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

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.