State of Alaska Department of Revenue Sells 761 Shares of GMS Inc. (NYSE:GMS)

State of Alaska Department of Revenue lessened its stake in GMS Inc. (NYSE:GMS) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 22,627 shares of the company’s stock after selling 761 shares during the period. State of Alaska Department of Revenue’s holdings in GMS were worth $2,049,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after buying an additional 171 shares during the period. Quarry LP boosted its stake in GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC grew its holdings in GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares during the period. EntryPoint Capital LLC acquired a new position in GMS during the first quarter valued at approximately $77,000. Finally, Canada Pension Plan Investment Board bought a new stake in GMS in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Price Performance

GMS stock opened at $90.96 on Friday. The stock has a 50-day moving average price of $89.75 and a two-hundred day moving average price of $89.96. GMS Inc. has a 1 year low of $59.86 and a 1 year high of $101.04. The stock has a market cap of $3.57 billion, a PE ratio of 15.01 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

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

Analysts Set New Price Targets

GMS has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays lowered their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Finally, Robert W. Baird raised their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.50.

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.