Installed Building Products, Inc. $IBP Shares Sold by Salvus Wealth Management LLC

Salvus Wealth Management LLC lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 35.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,310 shares of the construction company’s stock after selling 6,086 shares during the period. Installed Building Products accounts for approximately 1.5% of Salvus Wealth Management LLC’s holdings, making the stock its 19th largest holding. Salvus Wealth Management LLC’s holdings in Installed Building Products were worth $2,599,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in Installed Building Products in the 2nd quarter valued at about $246,000. Beacon Investment Advisory Services Inc. boosted its stake in Installed Building Products by 27.0% during the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock worth $3,494,000 after buying an additional 3,229 shares during the period. Parallel Advisors LLC boosted its stake in Installed Building Products by 446.7% during the first quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock worth $44,000 after buying an additional 134 shares during the period. Glenmede Trust Co. NA increased its position in shares of Installed Building Products by 2.6% during the first quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock valued at $673,000 after acquiring an additional 64 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Installed Building Products by 51.8% during the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after acquiring an additional 101,967 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CFO Michael Thomas Miller purchased 990 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, with a total value of $198,613.80. Following the completion of the acquisition, the chief financial officer directly owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is owned by company insiders.

Installed Building Products Trading Down 3.5%

NYSE IBP opened at $235.45 on Tuesday. Installed Building Products, Inc. has a 52 week low of $193.11 and a 52 week high of $349.00. The firm has a 50 day moving average of $221.67 and a two-hundred day moving average of $260.13. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $6.34 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70.

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

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products’s payout ratio is presently 16.79%.

Analyst Ratings Changes

IBP has been the topic of several recent analyst reports. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. DA Davidson boosted their target price on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday. Stephens decreased their price target on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Truist Financial lowered their price target on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings cut Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $249.55.

Installed Building Products Profile

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.