Nuveen LLC Takes Position in GMS Inc. $GMS

Nuveen LLC bought a new stake in shares of GMS Inc. (NYSE:GMS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 106,777 shares of the company’s stock, valued at approximately $7,813,000. Nuveen LLC owned 0.28% of GMS at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GMS. Envestnet Asset Management Inc. boosted its stake in shares of GMS by 10.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,448 shares of the company’s stock valued at $2,159,000 after purchasing an additional 2,410 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of GMS during the fourth quarter valued at $1,547,000. Canada Pension Plan Investment Board purchased a new stake in GMS in the fourth quarter worth about $34,000. MetLife Investment Management LLC lifted its stake in GMS by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 23,439 shares of the company’s stock worth $1,988,000 after acquiring an additional 343 shares during the period. Finally, Northern Trust Corp lifted its stake in GMS by 13.9% in the fourth quarter. Northern Trust Corp now owns 580,130 shares of the company’s stock worth $49,212,000 after acquiring an additional 70,927 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the transaction, the insider owned 3,486,524 shares in the company, valued at $383,691,966.20. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the transaction, the chief operating officer owned 23,950 shares in the company, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 343,627 shares of company stock valued at $37,808,097. Insiders own 1.90% of the company’s stock.

GMS Stock Performance

GMS stock opened at $109.8950 on Monday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 38.03 and a beta of 1.76. The firm has a 50-day simple moving average of $105.80 and a two-hundred day simple moving average of $85.99. GMS Inc. has a one year low of $65.77 and a one year high of $110.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91.

GMS (NYSE:GMS) last released its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, equities analysts forecast that GMS Inc. will post 7.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GMS. DA Davidson upped their price objective on shares of GMS from $95.20 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Royal Bank Of Canada upped their price objective on shares of GMS from $95.20 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 1st. Stephens lowered shares of GMS from a “strong-buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research note on Friday, June 27th. Loop Capital upped their price objective on shares of GMS from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 1st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $95.00 price objective (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Nine analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.11.

About GMS

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.