Nuveen Asset Management LLC Sells 18,718 Shares of GMS Inc. (NYSE:GMS)
Nuveen Asset Management LLC trimmed its position in GMS Inc. (NYSE:GMS – Get Rating) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,119 shares of the company’s stock after selling 18,718 shares during the period. Nuveen Asset Management LLC owned approximately 0.49% of GMS worth $8,247,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds also recently modified their holdings of the company. Captrust Financial Advisors boosted its position in GMS by 10.0% during the 2nd quarter. Captrust Financial Advisors now owns 2,554 shares of the company’s stock worth $114,000 after acquiring an additional 232 shares during the last quarter. Point72 Hong Kong Ltd grew its position in GMS by 41.1% in the second quarter. Point72 Hong Kong Ltd now owns 958 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares in the last quarter. Credit Suisse AG grew its position in GMS by 0.6% in the third quarter. Credit Suisse AG now owns 53,183 shares of the company’s stock valued at $2,129,000 after purchasing an additional 330 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in GMS by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 79,857 shares of the company’s stock worth $3,554,000 after buying an additional 362 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of GMS by 1.4% during the 1st quarter. Raymond James & Associates now owns 29,964 shares of the company’s stock worth $1,491,000 after buying an additional 404 shares during the last quarter. 96.34% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GMS has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on GMS from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 24th. Loop Capital cut shares of GMS from a “buy” rating to a “hold” rating and raised their target price for the company from $52.00 to $60.00 in a research note on Friday, December 9th. They noted that the move was a valuation call. Barclays upped their price target on shares of GMS from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, March 6th. Royal Bank of Canada lifted their price objective on shares of GMS from $51.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday, December 9th. Finally, StockNews.com raised shares of GMS from a “buy” rating to a “strong-buy” rating in a report on Monday, November 28th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.
Insider Buying and Selling
In other GMS news, CEO John C. Turner, Jr. sold 1,526 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $59.50, for a total transaction of $90,797.00. Following the transaction, the chief executive officer now owns 63,110 shares in the company, valued at approximately $3,755,045. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO John C. Turner, Jr. sold 1,526 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $59.50, for a total value of $90,797.00. Following the transaction, the chief executive officer now owns 63,110 shares in the company, valued at $3,755,045. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Gavin sold 9,816 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $60.52, for a total transaction of $594,064.32. Following the sale, the director now directly owns 15,513 shares of the company’s stock, valued at approximately $938,846.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,844 shares of company stock valued at $1,194,836. 1.60% of the stock is owned by company insiders.
GMS Trading Down 2.9 %
Shares of GMS stock opened at $56.20 on Friday. GMS Inc. has a 12-month low of $36.10 and a 12-month high of $62.19. The firm has a 50 day moving average price of $57.17 and a two-hundred day moving average price of $50.57. The company has a quick ratio of 1.58, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $2.32 billion, a PE ratio of 7.24 and a beta of 1.85.
GMS (NYSE:GMS – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.01). GMS had a net margin of 6.28% and a return on equity of 34.16%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that GMS Inc. will post 8.92 earnings per share for the current year.
GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceiling 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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