Installed Building Products (IBP) has 950,538 shares of shorts outstanding as on August 15, 2016, with 3 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 1,026,079 shares. The stock has a decent trading volume of 331,710 shares daily. The marginal decrease in the short positions is by -7.4%, which amounts to -75,541 shares. Short positions are 4.2% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.
Installed Building Products (NYSE:IBP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.65 and $31.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.10, notching a gain of 0.19% for the day. The total traded volume was 302,740 . The stock had closed at $32.04 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Installed Building Products, Inc., Hilsheimer Lawrence A., had purchased 4,300 shares in a transaction dated on March 14, 2016. The transaction was executed at $23.27 per share with total amount equaling $100,061.
Installed Building Products, Inc. is a residential insulation installer in the United States. The Companys national platform consists of over 100 locations accessing customers in all 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business. The Company manages various aspects of the installation process for the customers, from the direct purchase and receipt of materials from national manufacturers, to supply of materials to job sites and quality installation. The Companys customers include production and custom homebuilders, multi-family and commercial contractors, and homeowners.