Salvus Wealth Management LLC Lowers Holdings in Installed Building Products, Inc. $IBP

Key Points

• Salvus Wealth Management cut its Installed Building Products stake by 35% in the second quarter, selling 6,086 shares and retaining 11,310 shares valued at approximately $2.6 million. Institutional investors and hedge funds collectively own 99.61% of IBP.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in EPS versus the $2.55 estimate and revenue of $777.8 million, up 2.3% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 0.7% annualized yield.
• Analyst sentiment remains cautious, with one Buy, eleven Hold, and one Sell rating; the consensus rating is Hold with an average price target of $249.55. IBP recently traded at $235.45, below its 12-month high of $349.

Salvus Wealth Management LLC reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 35.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,310 shares of the construction company's stock after selling 6,086 shares during the quarter. Installed Building Products accounts for 1.5% of Salvus Wealth Management LLC's holdings, making the stock its 19th largest position. Salvus Wealth Management LLC's holdings in Installed Building Products were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of IBP. Bessemer Group Inc. raised its position in shares of Installed Building Products by 21.4% in the fourth quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company's stock worth $31,973,000 after acquiring an additional 21,705 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Installed Building Products by 36,067.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company's stock valued at $14,260,000 after purchasing an additional 54,822 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Installed Building Products by 3.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company's stock valued at $35,518,000 after buying an additional 5,042 shares in the last quarter. Norges Bank purchased a new stake in shares of Installed Building Products in the fourth quarter valued at approximately $32,359,000. Finally, Bank of America Corp DE raised its stake in shares of Installed Building Products by 51.8% during the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company's stock worth $79,208,000 after buying an additional 101,967 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

IBP opened at $235.45 on Tuesday. The firm has a market capitalization of $6.34 billion, a PE ratio of 25.34, a PEG ratio of 5.85 and a beta of 1.70. Installed Building Products, Inc. has a twelve month low of $193.11 and a twelve month high of $349.00. The firm's 50-day moving average price is $221.67 and its 200 day moving average price is $260.13. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same quarter in the prior year, the firm earned $2.95 EPS. Installed Building Products's quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 9.57 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products's payout ratio is 16.79%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. DA Davidson upped their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a report on Monday, May 11th. Truist Financial cut their target price on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and an average price target of $249.55.

Insider Transactions at Installed Building Products

In related news, CFO Michael Thomas Miller bought 990 shares of the business's stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $200.62 per share, with a total value of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares of the company's stock, valued at $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.80% of the stock is currently owned by insiders.

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.

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