Principal Financial Group Inc. lifted its position in GMS Inc. (NYSE:GMS - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,048 shares of the company's stock after buying an additional 3,799 shares during the quarter. Principal Financial Group Inc. owned approximately 0.58% of GMS worth $16,394,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of GMS. Allspring Global Investments Holdings LLC raised its stake in GMS by 51.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,116 shares of the company's stock valued at $598,000 after purchasing an additional 2,753 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of GMS during the first quarter valued at about $442,000. Yousif Capital Management LLC boosted its holdings in GMS by 1.0% in the first quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after acquiring an additional 147 shares in the last quarter. GAMMA Investing LLC boosted its holdings in GMS by 38.3% in the first 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, AlphaQuest LLC boosted its holdings in GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after acquiring an additional 325 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Baird R W cut shares of GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research report on Friday, June 27th. Finally, DA Davidson upped their price target on shares of GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, GMS currently has a consensus rating of "Hold" and an average price target of $101.11.
View Our Latest Stock Report on GMS
Insider Activity at GMS
In other news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.
GMS Price Performance
GMS traded down $0.04 during trading on Friday, reaching $109.33. 2,525,941 shares of the company traded hands, compared to its average volume of 550,967. 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 12-month low of $65.77 and a 12-month high of $109.70. The firm has a fifty day simple moving average of $85.52 and a 200 day simple moving average of $80.62. The company has a market cap of $4.16 billion, a P/E ratio of 37.83 and a beta of 1.71.
GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.18. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 EPS. On average, equities analysts forecast that GMS Inc. will post 7.26 EPS for the current year.
GMS Company Profile
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Free Report)
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.
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