Arizona State Retirement System Decreases Stock Holdings in GMS Inc. (NYSE:GMS)

Arizona State Retirement System trimmed its position in shares of GMS Inc. (NYSE:GMS) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,134 shares of the company’s stock after selling 268 shares during the quarter. Arizona State Retirement System’s holdings in GMS were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GMS. Bridges Investment Management Inc. increased its holdings in shares of GMS by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 22,751 shares of the company’s stock valued at $1,665,000 after acquiring an additional 11,984 shares in the last quarter. Regents Gate Capital LLP increased its holdings in shares of GMS by 1,439.9% during the first quarter. Regents Gate Capital LLP now owns 72,839 shares of the company’s stock valued at $5,330,000 after acquiring an additional 68,109 shares in the last quarter. Eukles Asset Management acquired a new position in shares of GMS during the first quarter valued at about $33,000. Principal Financial Group Inc. increased its holdings in shares of GMS by 1.7% during the first quarter. Principal Financial Group Inc. now owns 224,048 shares of the company’s stock valued at $16,394,000 after acquiring an additional 3,799 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of GMS by 51.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,116 shares of the company’s stock valued at $598,000 after acquiring an additional 2,753 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

GMS Price Performance

Shares of NYSE:GMS opened at $109.85 on Monday. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28. The company’s 50 day moving average is $89.12 and its 200 day moving average is $81.42. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.18 billion, a PE ratio of 38.01 and a beta of 1.71.

GMS (NYSE:GMS) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.93 EPS. On average, sell-side analysts forecast that GMS Inc. will post 7.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GMS. Loop Capital upped their price objective on shares of GMS from $95.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, July 1st. Baird R W downgraded shares of GMS from a “strong-buy” rating to a “hold” rating in a report on Monday, June 23rd. DA Davidson upped their price objective on shares of GMS from $95.20 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Barclays upped their price objective on shares of GMS from $95.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, July 1st. Finally, Robert W. Baird restated a “neutral” rating and set a $95.00 price objective (up previously from $93.00) on shares of GMS in a report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, GMS has a consensus rating of “Hold” and a consensus target price of $101.11.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.05, for a total transaction of $19,713,586.65. Following the transaction, the insider owned 3,646,018 shares in the company, valued at $401,244,280.90. This trade represents a 4.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the transaction, the chief operating officer owned 23,950 shares in the company, valued at $2,592,108.50. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 343,627 shares of company stock worth $37,808,097 in the last quarter. Insiders own 1.90% of the company’s stock.

GMS Company Profile

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.