Intech Investment Management LLC Grows Stock Position in GMS Inc. (NYSE:GMS)

Intech Investment Management LLC increased its holdings in GMS Inc. (NYSE:GMS) by 148.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,511 shares of the company’s stock after purchasing an additional 9,876 shares during the quarter. Intech Investment Management LLC’s holdings in GMS were worth $1,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its holdings in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in GMS by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after purchasing an additional 113 shares in the last quarter. QRG Capital Management Inc. lifted its holdings 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 lifted its holdings in 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 purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

GMS Stock Up 2.1 %

GMS opened at $103.82 on Tuesday. The firm has a 50 day moving average price of $93.61 and a 200 day moving average price of $90.55. The company has a market cap of $4.08 billion, a PE ratio of 17.19 and a beta of 1.68. GMS Inc. has a 1 year low of $65.46 and a 1 year high of $105.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last posted its earnings results 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 business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.40 EPS. Sell-side analysts expect that GMS Inc. will post 7.95 earnings per share for the current year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value 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. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

GMS has been the topic of several recent analyst reports. Loop Capital increased their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday. Robert W. Baird increased their price objective on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays cut their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Truist Financial cut their price objective 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.50.

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.