Prudential Financial Inc. lowered its position in shares of GMS Inc. (NYSE:GMS) by 46.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,000 shares of the company’s stock after selling 63,040 shares during the period. Prudential Financial Inc.’s holdings in GMS were worth $2,558,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its position in shares of GMS by 9.6% in the fourth quarter. State Street Corp now owns 123,409 shares of the company’s stock worth $3,611,000 after buying an additional 10,847 shares in the last quarter. TFS Capital LLC acquired a new position in shares of GMS during the first quarter worth about $221,000. Daiwa Securities Group Inc. acquired a new position in shares of GMS during the first quarter worth about $2,540,000. Nationwide Fund Advisors increased its position in shares of GMS by 1,496.5% in the first quarter. Nationwide Fund Advisors now owns 73,185 shares of the company’s stock worth $2,564,000 after buying an additional 68,601 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of GMS during the first quarter worth about $3,678,000. Institutional investors own 39.13% of the company’s stock.
Shares of GMS Inc. (NYSE GMS) opened at 28.05 on Monday. The firm’s 50-day moving average price is $32.51 and its 200 day moving average price is $31.95. The company has a market capitalization of $1.15 billion, a PE ratio of 23.57 and a beta of 3.49. GMS Inc. has a 52-week low of $20.23 and a 52-week high of $36.99.
GMS (NYSE:GMS) last issued its earnings results on Thursday, June 29th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $615 million for the quarter, compared to analyst estimates of $614.93 million. GMS had a net margin of 2.11% and a return on equity of 14.15%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts forecast that GMS Inc. will post $1.99 earnings per share for the current year.
Several analysts have weighed in on GMS shares. ValuEngine raised GMS from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. Seaport Global Securities started coverage on GMS in a research report on Thursday, March 16th. They set a “neutral” rating on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $38.00 price objective on shares of GMS in a research report on Monday, June 19th. Finally, Northcoast Research raised GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $36.17.
In other news, SVP Richard Alan Adams sold 83,950 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the transaction, the senior vice president now directly owns 170,000 shares of the company’s stock, valued at $5,385,600. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total transaction of $31,680,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,986,079 shares of company stock worth $126,278,983.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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