Short Interest in Installed Building Products, Inc. (NYSE:IBP) Decreases By 10.0%

Installed Building Products, Inc. (NYSE:IBP) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,170,000 shares, a decline of 10.0% from the October 15th total of 1,300,000 shares. Approximately 5.0% of the shares of the company are sold short. Based on an average daily volume of 228,300 shares, the short-interest ratio is presently 5.1 days.

Installed Building Products Stock Performance

Shares of IBP stock traded up $4.20 during mid-day trading on Friday, hitting $142.81. The stock had a trading volume of 311,988 shares, compared to its average volume of 224,629. The firm has a market cap of $4.06 billion, a PE ratio of 16.37, a PEG ratio of 1.83 and a beta of 1.79. The company’s 50-day simple moving average is $122.19 and its 200-day simple moving average is $129.03. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.08 and a quick ratio of 2.59. Installed Building Products has a fifty-two week low of $77.12 and a fifty-two week high of $158.18.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 31st. Investors of record on Friday, December 15th will be given a $0.33 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.32 dividend on an annualized basis and a yield of 0.92%. Installed Building Products’s payout ratio is currently 15.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBP. StockNews.com assumed coverage on Installed Building Products in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Royal Bank of Canada raised their target price on shares of Installed Building Products from $111.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Evercore ISI raised shares of Installed Building Products from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $165.00 in a report on Thursday, November 9th. Truist Financial decreased their price target on shares of Installed Building Products from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Finally, Stephens raised their price objective on shares of Installed Building Products from $140.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.33.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Installed Building Products by 10.0% in the 1st quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after buying an additional 405,604 shares during the period. Vanguard Group Inc. raised its position in Installed Building Products by 13.2% in the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after acquiring an additional 329,661 shares in the last quarter. Invesco Ltd. lifted its holdings in Installed Building Products by 0.3% in the first quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock valued at $118,871,000 after acquiring an additional 4,335 shares during the period. State Street Corp boosted its position in shares of Installed Building Products by 3.7% during the 2nd quarter. State Street Corp now owns 959,000 shares of the construction company’s stock worth $134,413,000 after purchasing an additional 34,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Installed Building Products by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 761,727 shares of the construction company’s stock worth $106,763,000 after purchasing an additional 7,856 shares during the period. Hedge funds and other institutional investors own 82.62% of the company’s stock.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.