GMS Inc. (NYSE:GMS) Shares Bought by Vestcor Inc

by · The Cerbat Gem

Vestcor Inc grew its holdings in GMS Inc. (NYSE:GMS – Free Report) by 71.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,330 shares of the company’s stock after acquiring an additional 5,972 shares during the period. Vestcor Inc’s holdings in GMS were worth $1,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its position in GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares during the period. Quarry LP boosted its position in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares during the period. GAMMA Investing LLC grew its stake in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after buying an additional 361 shares in the last quarter. KBC Group NV raised its holdings in shares of GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after buying an additional 281 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in GMS during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GMS. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Truist Financial raised their price target on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a report on Monday. Barclays lifted their price target on shares of GMS from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Loop Capital upped their price objective on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Finally, Robert W. Baird lowered their target price on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, GMS currently has an average rating of “Hold” and an average price target of $95.43.

Read Our Latest Report on GMS

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

GMS Trading Down 0.6 %

Shares of NYSE GMS opened at $94.45 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average price is $96.03 and its two-hundred day moving average price is $91.02. GMS Inc. has a 52-week low of $71.67 and a 52-week high of $105.54. The stock has a market capitalization of $3.71 billion, a P/E ratio of 17.36 and a beta of 1.68.

GMS (NYSE:GMS – Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 earnings per share. On average, analysts anticipate that GMS Inc. will post 7.83 earnings per share for the current fiscal year.

GMS Company Profile

(Free Report)

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers 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.

Further Reading