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

Installed Building Products, Inc. (NYSE:IBP) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,700,000 shares, a growth of 17.2% from the February 13th total of 1,450,000 shares. Approximately 7.3% of the company’s shares are short sold. Based on an average daily trading volume, of 348,700 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Trading of Installed Building Products

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Installed Building Products during the third quarter valued at approximately $54,499,000. First Trust Advisors LP grew its stake in Installed Building Products by 69.8% in the fourth quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock valued at $85,124,000 after purchasing an additional 199,657 shares in the last quarter. Norges Bank acquired a new position in shares of Installed Building Products during the 4th quarter worth approximately $28,509,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Installed Building Products by 87.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock worth $59,249,000 after purchasing an additional 158,173 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 0.8 %

NYSE:IBP opened at $175.03 on Friday. The stock has a 50-day simple moving average of $182.19 and a 200 day simple 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 company has a market cap of $4.86 billion, a PE ratio of 19.45 and a beta of 2.05. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Wall Street Analyst Weigh In

IBP has been the topic of several recent analyst reports. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Loop Capital reduced their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Benchmark lowered their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $219.40.

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.