New York State Teachers Retirement System Sells 600 Shares of GMS Inc. (NYSE:GMS)

New York State Teachers Retirement System cut its position in GMS Inc. (NYSE:GMSGet Rating) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,764 shares of the company’s stock after selling 600 shares during the period. New York State Teachers Retirement System owned about 0.05% of GMS worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GMS. Point72 Hong Kong Ltd grew its stake in GMS by 41.1% during the second quarter. Point72 Hong Kong Ltd now owns 958 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of GMS by 10.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,554 shares of the company’s stock worth $114,000 after acquiring an additional 232 shares during the last quarter. KBC Group NV bought a new stake in shares of GMS in the 2nd quarter worth about $165,000. Delphia USA Inc. bought a new stake in shares of GMS in the 1st quarter worth about $220,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of GMS by 129.6% in the 2nd quarter. Lazard Asset Management LLC now owns 4,986 shares of the company’s stock worth $221,000 after acquiring an additional 2,814 shares during the last quarter. 96.34% of the stock is owned by hedge funds and other institutional investors.

GMS Stock Down 2.9 %

Shares of GMS stock opened at $52.03 on Friday. The firm’s 50 day moving average price is $51.09 and its 200-day moving average price is $48.31. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.99. GMS Inc. has a 52-week low of $36.10 and a 52-week high of $58.72. The company has a market cap of $2.17 billion, a P/E ratio of 6.82 and a beta of 1.80.

GMS (NYSE:GMSGet Rating) last issued its quarterly earnings data on Thursday, December 8th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. GMS had a net margin of 6.32% and a return on equity of 35.76%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, sell-side analysts predict that GMS Inc. will post 9 EPS for the current fiscal year.

Insider Transactions at GMS

In other news, CAO William Forrest Bell sold 2,376 shares of GMS stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $55.52, for a total value of $131,915.52. Following the transaction, the chief accounting officer now owns 996 shares of the company’s stock, valued at approximately $55,297.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GMS news, Director John J. Gavin sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $52.15, for a total transaction of $325,937.50. Following the sale, the director now owns 26,229 shares of the company’s stock, valued at approximately $1,367,842.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO William Forrest Bell sold 2,376 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $55.52, for a total transaction of $131,915.52. Following the sale, the chief accounting officer now directly owns 996 shares in the company, valued at approximately $55,297.92. The disclosure for this sale can be found here. Insiders have sold a total of 13,089 shares of company stock valued at $686,403 in the last 90 days. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GMS. Royal Bank of Canada raised their target price on shares of GMS from $51.00 to $58.00 and gave the stock a “sector perform” rating in a report on Friday, December 9th. Loop Capital lowered shares of GMS from a “buy” rating to a “hold” rating and lifted their price objective for the company from $52.00 to $60.00 in a report on Friday, December 9th. They noted that the move was a valuation call. Robert W. Baird lifted their price objective on shares of GMS from $56.00 to $67.00 in a report on Friday, December 9th. StockNews.com upgraded shares of GMS from a “buy” rating to a “strong-buy” rating in a report on Monday, November 28th. Finally, Stephens lifted their price objective on shares of GMS from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, December 12th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

About GMS

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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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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