Short Interest in Installed Building Products, Inc. (NYSE:IBP) Declines By 6.1%

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,070,000 shares, a decline of 6.1% from the November 15th total of 1,140,000 shares. Approximately 4.5% of the company’s shares are sold short. Based on an average daily volume of 277,800 shares, the short-interest ratio is presently 3.9 days.

Installed Building Products Price Performance

Shares of Installed Building Products stock traded down $2.58 during midday trading on Tuesday, hitting $192.62. 105,736 shares of the company traded hands, compared to its average volume of 290,540. Installed Building Products has a 12 month low of $168.08 and a 12 month high of $281.04. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 21.54 and a beta of 1.93. 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’s fifty day moving average price is $222.97 and its 200-day moving average price is $222.87.

Installed Building Products Announces Dividend

The company 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Installed Building Products in the third quarter valued at $29,000. GHP Investment Advisors Inc. grew its position in Installed Building Products by 185.7% during the third 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. CWM LLC increased its holdings 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 buying an additional 62 shares during the last quarter. Advisors Asset Management Inc. raised its position in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after acquiring an additional 140 shares during the period. Finally, Quarry LP boosted its stake in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBP. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $247.10.

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.