Principal Financial Group Inc. Buys 7,001 Shares of GMS Inc. (NYSE:GMS)

Principal Financial Group Inc. increased its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,249 shares of the company's stock after purchasing an additional 7,001 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of GMS worth $18,684,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D grew its holdings in shares of GMS by 1.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 21,152 shares of the company's stock valued at $1,794,000 after acquiring an additional 347 shares in the last quarter. Rhumbline Advisers boosted its position in GMS by 2.0% during the fourth quarter. Rhumbline Advisers now owns 109,240 shares of the company's stock valued at $9,267,000 after purchasing an additional 2,180 shares during the last quarter. Regents Gate Capital LLP purchased a new position in GMS in the fourth quarter valued at about $401,000. Meritage Portfolio Management increased its position in GMS by 7.2% in the 4th quarter. Meritage Portfolio Management now owns 5,091 shares of the company's stock worth $432,000 after purchasing an additional 344 shares during the last quarter. Finally, Choreo LLC raised its stake in shares of GMS by 12.1% during the 4th quarter. Choreo LLC now owns 2,668 shares of the company's stock worth $227,000 after purchasing an additional 288 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

GMS Stock Performance

Shares of GMS stock traded up $0.22 during trading on Friday, reaching $79.58. The company's stock had a trading volume of 362,039 shares, compared to its average volume of 356,262. GMS Inc. has a one year low of $77.14 and a one year high of $105.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 14.63 and a beta of 1.72. The business's fifty day moving average price is $83.41 and its 200-day moving average price is $89.47.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.26 by ($0.24). The business 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%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.30 earnings per share. As a group, equities research analysts predict that GMS Inc. will post 7.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on GMS shares. DA Davidson reduced their target price on shares of GMS from $97.00 to $94.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Barclays decreased their price objective on shares of GMS from $93.00 to $80.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Truist Financial increased their target price on shares of GMS from $90.00 to $97.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Loop Capital boosted their price target on GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, November 25th. Finally, Robert W. Baird lowered their price objective on GMS from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, December 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, GMS has an average rating of "Hold" and a consensus target price of $93.57.

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.