Salvus Wealth Management LLC Acquires New Holdings in Installed Building Products, Inc. (NYSE:IBP)

Salvus Wealth Management LLC purchased a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,139 shares of the construction company's stock, valued at approximately $1,910,000. Installed Building Products comprises about 1.2% of Salvus Wealth Management LLC's investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new stake in Installed Building Products during the fourth quarter worth approximately $30,000. McIlrath & Eck LLC lifted its holdings in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock valued at $64,000 after purchasing an additional 272 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Installed Building Products in the 4th quarter valued at $90,000. Finally, Headlands Technologies LLC grew its holdings in Installed Building Products by 819.0% in the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company's stock valued at $127,000 after buying an additional 647 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock traded down $4.04 during trading on Friday, reaching $165.71. 493,784 shares of the company's stock were exchanged, compared to its average volume of 342,463. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 1-year low of $150.83 and a 1-year high of $281.04. The company has a market cap of $4.58 billion, a P/E ratio of 18.41 and a beta of 1.73. The firm's 50-day moving average price is $164.10 and its 200 day moving average price is $178.93.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The business had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same period in the previous year, the firm posted $2.47 EPS. The firm's revenue was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.89%. Installed Building Products's payout ratio is currently 16.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IBP shares. Loop Capital reduced their target price on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, May 12th. DA Davidson cut their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price on the stock. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. Finally, Wall Street Zen cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $212.45.

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.