GMS Inc. (NYSE:GMS) Holdings Lifted by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in GMS Inc. by 25.8%, acquiring an additional 25,234 shares, bringing its total ownership to 123,080 shares valued at approximately $9 million.
• Major shareholder Coliseum Capital Management sold 179,133 shares, reducing its position by 4.68%, while COO George T. Hendren disposed of 5,000 shares in June, a 17.27% decrease in his ownership.
• GMS Inc. recently reported $1.29 EPS for the last quarter, outperforming analyst expectations, although its quarterly revenue decreased by 5.6% compared to the previous year.

Public Sector Pension Investment Board increased its stake in GMS Inc. (NYSE:GMS - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,080 shares of the company's stock after purchasing an additional 25,234 shares during the period. Public Sector Pension Investment Board owned 0.32% of GMS worth $9,006,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Eukles Asset Management bought a new stake in GMS during the 1st quarter valued at $33,000. Canada Pension Plan Investment Board bought a new stake in GMS during the 4th quarter valued at $34,000. Versant Capital Management Inc raised its stake in GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after acquiring an additional 445 shares in the last quarter. GAMMA Investing LLC raised its stake in GMS by 38.3% during the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after acquiring an additional 222 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in GMS during the 1st quarter valued at $252,000. Institutional investors own 95.28% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L sold 179,133 shares of GMS stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.05, for a total value of $19,713,586.65. Following the transaction, the insider directly owned 3,646,018 shares in the company, valued at $401,244,280.90. The trade was a 4.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the transaction, the chief operating officer owned 23,950 shares in the company, valued at $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,627 shares of company stock worth $37,808,097 over the last 90 days. Insiders own 1.90% of the company's stock.

GMS Price Performance

Shares of NYSE GMS traded down $0.27 during mid-day trading on Friday, reaching $109.41. The company had a trading volume of 922,491 shares, compared to its average volume of 1,111,292. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.16 billion, a PE ratio of 37.86 and a beta of 1.76. The company has a 50-day moving average price of $102.63 and a two-hundred day moving average price of $85.09. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $110.28.

GMS (NYSE:GMS - Get Free Report) last issued its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping 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 return on equity of 16.97% and a net margin of 2.09%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. On average, equities analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Baird R W downgraded GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Robert W. Baird reiterated a "neutral" rating and set a $95.00 price target (up from $93.00) on shares of GMS in a research report on Monday, June 23rd. Barclays lifted their price target on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Finally, DA Davidson lifted their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $101.11.

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.