Public Sector Pension Investment Board Sells 3,500 Shares of GMS Inc. (NYSE:GMS)

Public Sector Pension Investment Board cut its position in GMS Inc. (NYSE:GMS) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,094 shares of the company’s stock after selling 3,500 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of GMS worth $7,616,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of GMS by 25.3% in the third quarter. FMR LLC now owns 4,232,170 shares of the company’s stock valued at $383,308,000 after buying an additional 854,987 shares during the period. American Century Companies Inc. raised its stake in shares of GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after buying an additional 406,406 shares during the period. Pacer Advisors Inc. raised its stake in shares of GMS by 0.4% in the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after buying an additional 6,396 shares during the period. Federated Hermes Inc. raised its stake in shares of GMS by 0.9% in the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after buying an additional 9,516 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in shares of GMS by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after buying an additional 34,205 shares during the period. 95.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated 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 owns 23,772 shares of the company’s stock, valued at $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

GMS Price Performance

GMS stock opened at $100.29 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $94.68 and a 200 day simple moving average of $90.84. GMS Inc. has a 52 week low of $66.07 and a 52 week high of $105.54. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 16.55 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $2.40 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts forecast that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GMS shares. Barclays reduced their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Robert W. Baird lifted their price target on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. DA Davidson cut GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target for the company. in a research report on Tuesday. Truist Financial reduced their price target on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.50.

GMS 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.