Installed Building Products, Inc. (NYSE:IBP) Short Interest Update

Installed Building Products, Inc. (NYSE:IBP) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 1,487,952 shares, a decrease of 12.6% from the February 12th total of 1,702,788 shares. Based on an average trading volume of 404,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 6.6% of the company’s shares are short sold. Currently, 6.6% of the company’s shares are short sold. Based on an average trading volume of 404,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Transactions at Installed Building Products

In other news, CEO Jeffrey W. Edwards sold 400,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. This represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Janet E. Jackson sold 1,410 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the sale, the director directly owned 5,373 shares in the company, valued at $1,575,954.63. This represents a 20.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of IBP. Apollon Wealth Management LLC acquired a new stake in Installed Building Products in the third quarter valued at approximately $481,000. Bayforest Capital Ltd raised its stake in shares of Installed Building Products by 180.0% during the third quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock valued at $704,000 after purchasing an additional 1,834 shares during the period. Blalock Williams LLC acquired a new position in shares of Installed Building Products during the third quarter worth $792,000. Envestnet Asset Management Inc. lifted its position in shares of Installed Building Products by 16.3% during the third quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company’s stock worth $32,522,000 after purchasing an additional 18,487 shares in the last quarter. Finally, Watchtower Advisors LP boosted its stake in shares of Installed Building Products by 30.4% in the third quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company’s stock valued at $7,961,000 after purchasing an additional 7,534 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $288.48 on Tuesday. The firm has a fifty day moving average of $308.58 and a 200-day moving average of $276.93. Installed Building Products has a 52-week low of $150.83 and a 52-week high of $349.00. The company has a quick ratio of 2.44, a current ratio of 3.03 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $7.78 billion, a P/E ratio of 29.65, a PEG ratio of 4.00 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The business had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. During the same quarter in the previous year, the business posted $2.88 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts predict that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $1.80 per share. This represents a dividend yield of 63.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s payout ratio is currently 16.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBP. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Vertical Research upgraded Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a report on Friday, February 27th. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $256.09.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.