State of Alaska Department of Revenue Has $1.57 Million Holdings in GMS Inc. (NYSE:GMS)

State of Alaska Department of Revenue lessened its holdings in GMS Inc. (NYSE:GMS) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,507 shares of the company’s stock after selling 820 shares during the period. State of Alaska Department of Revenue’s holdings in GMS were worth $1,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Investment Advisors Inc. lifted its stake in shares of GMS by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock valued at $350,000 after purchasing an additional 131 shares during the last quarter. Yousif Capital Management LLC lifted its position in GMS by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock worth $1,108,000 after acquiring an additional 147 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in GMS by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock worth $3,182,000 after acquiring an additional 148 shares during the last quarter. Vise Technologies Inc. lifted its position in GMS by 2.3% during the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock worth $601,000 after acquiring an additional 162 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in GMS by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company’s stock worth $715,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Stock Performance

NYSE GMS opened at $99.62 on Wednesday. The stock has a market cap of $3.79 billion, a P/E ratio of 34.47 and a beta of 1.62. The company’s 50-day simple moving average is $76.55 and its 200 day simple moving average is $79.05. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $105.54. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85.

GMS (NYSE:GMS) last posted its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.18. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. As a group, research analysts forecast that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GMS has been the subject of a number of research analyst reports. Baird R W lowered shares of GMS from a “strong-buy” rating to a “hold” rating in a research report on Monday. UBS Group set a $80.00 target price on shares of GMS in a research report on Friday, March 7th. Loop Capital cut their target price on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Royal Bank Of Canada upped their price objective on shares of GMS from $65.00 to $95.20 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $95.00 price objective (up previously from $93.00) on shares of GMS in a research report on Monday. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GMS presently has an average rating of “Hold” and an average target price of $90.58.

Insider Activity at GMS

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the sale, the director now directly owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Turner, Jr. acquired 3,650 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the purchase, the chief executive officer now directly owns 66,928 shares of the company’s stock, valued at approximately $4,684,960. The trade was a 5.77% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

GMS 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.