Short Interest in Installed Building Products, Inc. (NYSE:IBP) Grows By 6.7%

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,120,000 shares, an increase of 6.7% from the February 29th total of 1,050,000 shares. Currently, 4.7% of the company's shares are sold short. Based on an average daily volume of 241,700 shares, the days-to-cover ratio is presently 4.6 days.

Insider Activity

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brad A. Wheeler sold 1,119 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares of the company's stock, valued at $1,675,596. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,619 shares of company stock valued at $1,606,732. 17.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ziegler Capital Management LLC acquired a new position in Installed Building Products in the fourth quarter valued at $3,618,000. Giverny Capital Inc. grew its stake in Installed Building Products by 1.1% during the 3rd quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company's stock worth $54,065,000 after buying an additional 4,542 shares during the last quarter. Nordea Investment Management AB acquired a new position in Installed Building Products during the fourth quarter worth approximately $269,000. William Blair Investment Management LLC acquired a new position in Installed Building Products during the third quarter worth approximately $18,661,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Installed Building Products in the third quarter valued at approximately $378,000. Institutional investors and hedge funds own 99.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Installed Building Products from $200.00 to $235.00 and gave the company a "hold" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. downgraded shares of Installed Building Products from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. Loop Capital upgraded Installed Building Products from a "hold" rating to a "buy" rating in a report on Monday, January 8th. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $188.00 to $216.00 and gave the company a "sector perform" rating in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a research report on Friday, February 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of "Moderate Buy" and an average target price of $208.40.

Installed Building Products Stock Down 1.6 %

NYSE:IBP traded down $4.16 during mid-day trading on Tuesday, hitting $253.10. The stock had a trading volume of 298,366 shares, compared to its average volume of 252,860. Installed Building Products has a twelve month low of $103.50 and a twelve month high of $263.76. The stock has a 50-day simple moving average of $224.53 and a two-hundred day simple moving average of $174.02. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $7.18 billion, a PE ratio of 29.02, a PEG ratio of 1.59 and a beta of 1.89.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company had revenue of $720.70 million for the quarter, compared to analysts' expectations of $688.59 million. During the same period last year, the firm earned $2.34 earnings per share. Installed Building Products's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Installed Building Products will post 11.25 EPS for the current year.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.33. Installed Building Products's payout ratio is currently 16.26%.

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.