KLP Kapitalforvaltning AS Makes New $848,000 Investment in GMS Inc. (NYSE:GMS)

KLP Kapitalforvaltning AS acquired a new stake in shares of GMS Inc. (NYSE:GMS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $848,000.

Other institutional investors have also made changes to their positions in the company. AlphaQuest LLC lifted its position in GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after acquiring an additional 325 shares during the last quarter. Blue Trust Inc. increased its stake in shares of GMS by 71.3% in the fourth quarter. Blue Trust Inc. now owns 685 shares of the company's stock worth $62,000 after purchasing an additional 285 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after purchasing an additional 705 shares during the last quarter. Stifel Financial Corp bought a new stake in GMS during the 3rd quarter valued at approximately $222,000. Finally, Choreo LLC grew its holdings in GMS by 12.1% in the 4th quarter. Choreo LLC now owns 2,668 shares of the company's stock valued at $227,000 after buying an additional 288 shares during the last quarter. 95.28% of the stock is owned by institutional investors.

GMS Price Performance

GMS traded up $0.94 during midday trading on Friday, reaching $72.02. 623,284 shares of the company's stock were exchanged, compared to its average volume of 410,742. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The business has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $86.89. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.24 and a beta of 1.62. GMS Inc. has a one year low of $65.88 and a one year high of $105.54.

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GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, research analysts predict that GMS Inc. will post 7.26 EPS for the current year.

Insider Activity

In other news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares in the company, valued at approximately $2,314,504.22. The trade was a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GMS. Robert W. Baird cut their price target on GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. DA Davidson dropped their price objective on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Barclays reduced their target price on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Finally, UBS Group set a $80.00 price target on GMS in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $80.50.

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.