Prudential Financial Inc. increased its stake in shares of GMS Inc (NYSE:GMS) by 13.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 294,220 shares of the company’s stock after buying an additional 33,998 shares during the quarter. Prudential Financial Inc. owned about 0.72% of GMS worth $6,826,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in GMS. Raymond James & Associates purchased a new position in GMS during the second quarter worth approximately $216,000. California Public Employees Retirement System lifted its position in GMS by 54.7% during the second quarter. California Public Employees Retirement System now owns 12,063 shares of the company’s stock worth $327,000 after buying an additional 4,263 shares in the last quarter. Jane Street Group LLC purchased a new position in GMS during the second quarter worth approximately $418,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in GMS during the second quarter worth approximately $429,000. Finally, Russell Investments Group Ltd. lifted its position in GMS by 490.6% during the second quarter. Russell Investments Group Ltd. now owns 18,000 shares of the company’s stock worth $488,000 after buying an additional 14,952 shares in the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.
In other GMS news, Director John J. Gavin bought 4,150 shares of GMS stock in a transaction on Monday, September 10th. The shares were bought at an average price of $24.13 per share, for a total transaction of $100,139.50. Following the completion of the transaction, the director now directly owns 16,966 shares of the company’s stock, valued at $409,389.58. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.90% of the stock is owned by insiders.
NYSE:GMS opened at $17.51 on Friday. GMS Inc has a 52 week low of $14.89 and a 52 week high of $39.69. The company has a current ratio of 2.75, a quick ratio of 1.93 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $749.51 million, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 0.80 and a beta of 2.17.
GMS (NYSE:GMS) last posted its earnings results on Tuesday, December 4th. The company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.06). GMS had a net margin of 2.23% and a return on equity of 17.36%. The business had revenue of $833.80 million during the quarter, compared to analysts’ expectations of $830.54 million. During the same quarter in the prior year, the firm earned $0.51 EPS. GMS’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, research analysts predict that GMS Inc will post 3.23 EPS for the current fiscal year.
GMS has been the topic of a number of analyst reports. Nomura lifted their price objective on GMS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Raymond James lifted their price objective on GMS from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 3rd. ValuEngine downgraded GMS from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Finally, TheStreet downgraded GMS from a “c-” rating to a “d+” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $32.10.
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.
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