GMS Inc. (NYSE:GMS) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in GMS Inc. (NYSE:GMS) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,805 shares of the company’s stock after buying an additional 113 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of GMS worth $1,884,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GMS. Meritage Portfolio Management boosted its stake in shares of GMS by 11.5% in the third quarter. Meritage Portfolio Management now owns 4,747 shares of the company’s stock worth $430,000 after acquiring an additional 490 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in GMS by 108.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 44,019 shares of the company’s stock worth $3,987,000 after purchasing an additional 22,887 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of GMS by 1.8% during the third quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock worth $2,246,000 after buying an additional 428 shares in the last quarter. CacheTech Inc. raised its position in shares of GMS by 8.0% in the third quarter. CacheTech Inc. now owns 30,009 shares of the company’s stock valued at $2,718,000 after buying an additional 2,229 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of GMS by 1.7% in the third quarter. GHP Investment Advisors Inc. now owns 44,825 shares of the company’s stock valued at $4,060,000 after buying an additional 732 shares during the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

GMS Stock Performance

Shares of GMS stock opened at $99.58 on Tuesday. The firm has a market cap of $3.91 billion, a PE ratio of 16.49 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52 week low of $64.82 and a 52 week high of $103.56. The business’s fifty day simple moving average is $92.03 and its 200-day simple moving average is $90.39.

GMS (NYSE:GMS) last posted its earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company earned $2.40 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that GMS Inc. will post 7.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird lifted their price objective on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays lowered their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Finally, Truist Financial cut their target price on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.50.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently 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.