Jennison Associates LLC Sells 371 Shares of GMS Inc. (NYSE:GMS)

Jennison Associates LLC cut its stake in shares of GMS Inc. (NYSE:GMS) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,608 shares of the company’s stock after selling 371 shares during the quarter. Jennison Associates LLC’s holdings in GMS were worth $815,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of GMS by 148.8% during the third quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock valued at $1,495,000 after acquiring an additional 9,876 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of GMS by 6.4% during the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after acquiring an additional 6,136 shares during the period. Barclays PLC lifted its holdings in shares of GMS by 374.0% during the third quarter. Barclays PLC now owns 70,580 shares of the company’s stock valued at $6,392,000 after acquiring an additional 55,690 shares during the period. Vestcor Inc lifted its holdings in shares of GMS by 71.5% during the third quarter. Vestcor Inc now owns 14,330 shares of the company’s stock valued at $1,298,000 after acquiring an additional 5,972 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of GMS by 61.1% during the third quarter. Rockefeller Capital Management L.P. now owns 37,359 shares of the company’s stock valued at $3,384,000 after acquiring an additional 14,174 shares during the period. 95.28% of the stock is owned by institutional investors.

Insider Transactions at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

GMS Price Performance

Shares of GMS stock opened at $83.97 on Friday. The stock has a 50-day moving average price of $87.60 and a 200 day moving average price of $90.47. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 15.44 and a beta of 1.72. GMS Inc. has a 12 month low of $77.29 and a 12 month high of $105.54.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 earnings per share. Research analysts expect that GMS Inc. will post 7.26 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on GMS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price objective (up from $78.00) on shares of GMS in a report on Friday, December 6th. Truist Financial raised their target price on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Robert W. Baird lowered their target price on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, December 6th. DA Davidson lowered their target price on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Barclays lowered their target price on GMS from $93.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.57.

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.