Vestcor Inc Raises Stock Position in GMS Inc. (NYSE:GMS)

Vestcor Inc lifted its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 71.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,330 shares of the company's stock after purchasing an additional 5,972 shares during the period. Vestcor Inc's holdings in GMS were worth $1,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP boosted its stake in GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company's stock worth $1,884,000 after buying an additional 113 shares during the period. SummerHaven Investment Management LLC lifted its stake in GMS by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company's stock valued at $847,000 after buying an additional 162 shares during the last quarter. Blue Trust Inc. lifted its stake 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 buying an additional 171 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of GMS by 4.0% in the third quarter. Inspire Investing LLC now owns 4,582 shares of the company's stock valued at $415,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 95.28% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GMS. Loop Capital raised their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, November 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $86.00 price objective (up from $78.00) on shares of GMS in a research report on Friday, December 6th. Truist Financial boosted their target price on GMS from $90.00 to $97.00 and gave the company a "hold" rating in a report on Monday. Barclays lifted their price objective on shares of GMS from $80.00 to $93.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded shares of GMS from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $95.43.

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by insiders.

GMS Price Performance

Shares of NYSE GMS traded down $2.08 during trading on Thursday, reaching $92.32. The company had a trading volume of 312,122 shares, compared to its average volume of 381,836. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $3.63 billion, a PE ratio of 16.97 and a beta of 1.68. GMS Inc. has a twelve month low of $71.68 and a twelve month high of $105.54. The stock has a 50-day moving average price of $96.08 and a two-hundred day moving average price of $91.03.

GMS (NYSE:GMS - Get Free Report) last released 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 return on equity of 20.67% and a net margin of 3.92%. GMS's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.30 earnings per share. As a group, sell-side analysts predict that GMS Inc. will post 7.83 earnings per share for the current year.

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.