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

Key Points

• Salvus Wealth Management LLC increased its stake in Installed Building Products, Inc. by 57.5%, acquiring an additional 6,406 shares, bringing its total ownership to approximately 1.8% of the company's stock.
• Installed Building Products reported earnings of $2.95 per share, surpassing expectations, with revenue reaching $760.30 million, a 3.1% increase year-over-year.
• Insider trading activity showed significant sales, with insiders selling 11,655 shares valued at over $3 million in the last quarter, indicating a potential shift in sentiment from company executives.

Salvus Wealth Management LLC grew its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 57.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,545 shares of the construction company's stock after acquiring an additional 6,406 shares during the quarter. Installed Building Products comprises 1.8% of Salvus Wealth Management LLC's portfolio, making the stock its 16th biggest position. Salvus Wealth Management LLC owned about 0.06% of Installed Building Products worth $3,164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IBP. UMB Bank n.a. raised its holdings in shares of Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after purchasing an additional 97 shares during the period. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 36.7% during the first quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company's stock worth $95,000 after acquiring an additional 149 shares in the last quarter. Covestor Ltd boosted its position in shares of Installed Building Products by 92.1% in the first quarter. Covestor Ltd now owns 557 shares of the construction company's stock valued at $96,000 after acquiring an additional 267 shares during the period. Finally, CWM LLC boosted its position in Installed Building Products by 178.7% in the first quarter. CWM LLC now owns 588 shares of the construction company's stock valued at $101,000 after buying an additional 377 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Insiders Place Their Bets

In other news, Director Janet E. Jackson sold 1,469 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the transaction, the director owned 6,873 shares in the company, valued at $1,828,218. The trade was a 17.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the transaction, the insider owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock valued at $3,123,578 over the last ninety days. Company insiders own 16.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on IBP. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a report on Friday, August 8th. DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Finally, Zacks Research upgraded Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $217.36.

Installed Building Products Stock Down 1.3%

Installed Building Products stock traded down $3.34 during mid-day trading on Monday, hitting $256.29. The company's stock had a trading volume of 261,438 shares, compared to its average volume of 447,473. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00. The company has a market cap of $7.00 billion, a PE ratio of 28.51 and a beta of 1.76. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The firm's 50 day moving average is $243.64 and its 200 day moving average is $196.19.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to analysts' expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.84 earnings per share. On average, analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio is 16.46%.

Installed Building Products Profile

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.