GMS Inc. (NYSE:GMS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of GMS Inc. (NYSE:GMS) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,451 shares of the company’s stock after selling 832 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of GMS worth $1,820,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC increased its position in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after acquiring an additional 325 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in GMS during the 4th quarter worth about $34,000. Blue Trust Inc. boosted its position in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after acquiring an additional 285 shares during the period. Smartleaf Asset Management LLC grew its stake in GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock valued at $84,000 after acquiring an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of GMS in the 4th quarter valued at about $193,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GMS has been the subject of several research reports. Loop Capital decreased their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a report on Monday, March 10th. UBS Group set a $80.00 price objective on shares of GMS in a research report on Friday, March 7th. DA Davidson lowered their price objective on shares of GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Robert W. Baird lowered their price objective on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada cut their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, GMS presently has an average rating of “Hold” and an average target price of $80.50.

GMS Trading Down 0.5%

GMS stock opened at $75.14 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 13.81 and a beta of 1.66. GMS Inc. has a one year low of $65.77 and a one year high of $105.54. The company’s fifty day moving average price is $72.72 and its two-hundred day moving average price is $83.22.

GMS (NYSE:GMS) last posted its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, analysts forecast that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Insider Transactions at GMS

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