State of New Jersey Common Pension Fund D Boosts Holdings in GMS Inc. (NYSE:GMS)

State of New Jersey Common Pension Fund D increased its holdings in shares of GMS Inc. (NYSE:GMS) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,805 shares of the company’s stock after buying an additional 113 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GMS were worth $1,884,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares during the period. Pitcairn Co. increased its holdings in GMS by 2.5% during the 1st quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after purchasing an additional 160 shares during the period. QRG Capital Management Inc. raised its position in GMS by 2.0% in the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after purchasing an additional 161 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of GMS by 1.6% in the 2nd 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 period. Finally, Blue Trust Inc. grew its position in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after buying an additional 171 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

GMS Price Performance

Shares of NYSE:GMS opened at $99.58 on Tuesday. GMS Inc. has a 12 month low of $64.82 and a 12 month high of $103.56. The firm has a market capitalization of $3.91 billion, a P/E ratio of 16.49 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The company’s fifty day moving average price is $92.03 and its 200 day moving average price is $90.39.

GMS (NYSE:GMS) last posted its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. As a group, sell-side analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on GMS shares. Truist Financial reduced their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Robert W. Baird boosted their target price on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays cut their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $91.50.

About GMS

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.