Nuveen LLC Takes Position in GMS Inc. $GMS

Key Points

• Nuveen LLC has acquired a new stake in GMS Inc., purchasing 106,777 shares valued at approximately $7.8 million, increasing their ownership to 0.28% of the company.
• In the first quarter, GMS reported a quarterly earnings per share (EPS) of $1.29, exceeding analysts' estimates, although revenue decreased 5.6% year-over-year.
• Several institutions, including Envestnet and Northern Trust, have recently adjusted their positions in GMS, with institutional investors now holding 95.28% of the stock.

Nuveen LLC acquired a new position in shares of GMS Inc. (NYSE:GMS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 106,777 shares of the company's stock, valued at approximately $7,813,000. Nuveen LLC owned about 0.28% of GMS as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in GMS by 0.7% during the 1st quarter. Invesco Ltd. now owns 231,341 shares of the company's stock worth $16,927,000 after acquiring an additional 1,683 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in GMS by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 623,434 shares of the company's stock worth $45,617,000 after acquiring an additional 13,719 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in GMS by 29.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock worth $68,287,000 after acquiring an additional 212,128 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of GMS by 64.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,815 shares of the company's stock valued at $352,000 after purchasing an additional 1,879 shares during the last quarter. Finally, LSV Asset Management boosted its stake in GMS by 4.9% during the 1st quarter. LSV Asset Management now owns 668,420 shares of the company's stock worth $48,908,000 after acquiring an additional 31,200 shares during the last quarter. Institutional investors own 95.28% of the company's stock.

GMS Stock Up 0.1%

GMS stock traded up $0.09 during mid-day trading on Friday, hitting $109.94. 737,938 shares of the company were exchanged, compared to its average volume of 785,354. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $110.28. The firm has a market cap of $4.18 billion, a P/E ratio of 38.04 and a beta of 1.76. The firm's 50 day simple moving average is $108.36 and its 200 day simple moving average is $86.68.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.77 by ($0.01). GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $1.93 earnings per share. GMS's revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that GMS Inc. will post 7.26 EPS for the current fiscal year.

Insider Buying and Selling at GMS

In other GMS news, major shareholder Coliseum Capital Management, L sold 179,133 shares of GMS stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.05, for a total transaction of $19,713,586.65. Following the completion of the transaction, the insider directly owned 3,646,018 shares of the company's stock, valued at $401,244,280.90. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $541,150.00. Following the transaction, the chief operating officer directly owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 343,627 shares of company stock valued at $37,808,097 over the last three months. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

GMS has been the topic of several recent analyst reports. Raymond James Financial lowered shares of GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Loop Capital lifted their price objective on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, June 27th. DA Davidson raised their target price on shares of GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird restated a "neutral" rating and set a $95.00 target price (up from $93.00) on shares of GMS in a report on Monday, June 23rd. Nine analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.