Comerica Bank Has $1.45 Million Position in GMS Inc. (NYSE:GMS)

Comerica Bank reduced its stake in shares of GMS Inc. (NYSE:GMSGet Rating) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,642 shares of the company’s stock after selling 4,005 shares during the quarter. Comerica Bank owned 0.08% of GMS worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in shares of GMS by 35.4% during the third quarter. Assenagon Asset Management S.A. now owns 79,918 shares of the company’s stock worth $3,198,000 after purchasing an additional 20,875 shares during the last quarter. Strs Ohio grew its holdings in shares of GMS by 38.2% during the third quarter. Strs Ohio now owns 18,800 shares of the company’s stock worth $752,000 after purchasing an additional 5,200 shares during the last quarter. Raymond James & Associates grew its holdings in shares of GMS by 110.3% during the third quarter. Raymond James & Associates now owns 65,801 shares of the company’s stock worth $2,633,000 after purchasing an additional 34,509 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of GMS during the third quarter worth $501,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of GMS during the third quarter worth $816,000. 96.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on GMS. Stephens increased their target price on GMS from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. StockNews.com upgraded GMS from a “buy” rating to a “strong-buy” rating in a report on Monday, November 28th. Royal Bank of Canada raised their price target on GMS from $51.00 to $58.00 and gave the company a “sector perform” rating in a report on Friday, December 9th. Loop Capital cut GMS from a “buy” rating to a “hold” rating and raised their price target 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. Finally, Robert W. Baird raised their price target on GMS from $56.00 to $67.00 in a report on Friday, December 9th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GMS currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Insider Activity at GMS

In related news, COO George T. Hendren sold 4,463 shares of GMS stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $51.21, for a total value of $228,550.23. Following the sale, the chief operating officer now owns 23,437 shares of the company’s stock, valued at approximately $1,200,208.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO George T. Hendren sold 4,463 shares of GMS stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $51.21, for a total value of $228,550.23. Following the sale, the chief operating officer now owns 23,437 shares of the company’s stock, valued at approximately $1,200,208.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John J. Gavin sold 6,250 shares of GMS stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $52.15, for a total value of $325,937.50. Following the completion of the sale, the director now directly owns 26,229 shares in the company, valued at approximately $1,367,842.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,089 shares of company stock valued at $686,403. 1.60% of the stock is owned by insiders.

GMS Trading Up 1.9 %

NYSE GMS opened at $53.01 on Monday. The firm has a market cap of $2.21 billion, a P/E ratio of 6.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.50. The stock’s 50-day moving average is $51.14 and its 200-day moving average is $48.40. GMS Inc. has a one year low of $36.10 and a one year high of $58.72.

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

GMS Profile

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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.

See Also

Institutional Ownership by Quarter for GMS (NYSE:GMS)

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