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

Installed Building Products, Inc. (NYSE:IBP) was the target of a significant decline in short interest in the month of 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. Based on an average daily volume of 277,800 shares, the short-interest ratio is presently 3.9 days. Approximately 4.5% of the shares of the company are sold short.

Analysts Set New Price Targets

IBP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $238.00 to $206.00 in a report on Monday. Royal Bank of Canada downgraded 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 note on Friday, November 8th. Finally, DA Davidson reduced their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Installed Building Products presently has an average rating of “Hold” and an average target price of $247.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Installed Building Products by 80.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company’s stock worth $621,000 after purchasing an additional 1,348 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Installed Building Products by 14.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company’s stock valued at $333,000 after buying an additional 209 shares in the last quarter. Summit Global Investments acquired a new stake in Installed Building Products during the 2nd quarter valued at $1,146,000. Finally, Louisiana State Employees Retirement System increased its position in Installed Building Products by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the construction company’s stock worth $2,427,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of IBP traded down $3.30 on Monday, reaching $195.20. The stock had a trading volume of 268,634 shares, compared to its average volume of 291,329. Installed Building Products has a twelve month low of $168.08 and a twelve month high of $281.04. The firm has a market capitalization of $5.49 billion, a PE ratio of 21.69 and a beta of 1.93. The firm has a 50-day moving average of $223.81 and a 200 day moving average of $222.97. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

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.