Envestnet Asset Management Inc. Sells 12,472 Shares of GMS Inc. (NYSE:GMS)

Envestnet Asset Management Inc. cut its position in shares of GMS Inc. (NYSE:GMS) by 33.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,089 shares of the company’s stock after selling 12,472 shares during the period. Envestnet Asset Management Inc. owned 0.06% of GMS worth $2,022,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. raised its position in shares of GMS by 2.0% in the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock valued at $786,000 after purchasing an additional 160 shares during the period. Pitcairn Co. boosted its stake in shares of GMS by 2.5% in the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock valued at $644,000 after buying an additional 160 shares during the period. SummerHaven Investment Management LLC grew its position in GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock worth $847,000 after buying an additional 162 shares in the last quarter. Blue Trust Inc. lifted 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 valued at $30,000 after acquiring an additional 171 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of GMS by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,595 shares of the company’s stock worth $854,000 after acquiring an additional 199 shares in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GMS. Royal Bank of Canada dropped their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research report on Friday, June 21st. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays decreased their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Stephens cut their target price on GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, Robert W. Baird lowered their price objective on GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.63.

GMS Stock Performance

Shares of GMS stock opened at $90.75 on Friday. The firm has a 50 day moving average of $89.22 and a 200-day moving average of $90.60. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 13.48 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52 week low of $56.58 and a 52 week high of $101.04.

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

Insider Activity

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the sale, the senior vice president now directly owns 10,671 shares of the company’s stock, valued at $963,804.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

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.