Jennison Associates LLC Boosts Holdings in GMS Inc. (NYSE:GMS)

Jennison Associates LLC increased its position in shares of GMS Inc. (NYSE:GMS) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,979 shares of the company’s stock after buying an additional 513 shares during the quarter. Jennison Associates LLC’s holdings in GMS were worth $904,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GMS. Comerica Bank grew its holdings in shares of GMS by 157.0% during the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock worth $4,700,000 after purchasing an additional 29,495 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of GMS by 56.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock worth $5,060,000 after acquiring an additional 18,799 shares during the last quarter. Algert Global LLC lifted its holdings in shares of GMS by 22.8% in the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock worth $12,215,000 after acquiring an additional 28,137 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of GMS by 6.4% during the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock worth $9,197,000 after purchasing an additional 6,136 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in GMS by 630.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock valued at $4,268,000 after purchasing an additional 37,846 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

GMS Stock Up 2.6 %

GMS stock opened at $101.70 on Friday. GMS Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $103.56. The company’s 50 day moving average price is $93.61 and its 200 day moving average price is $90.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 16.78 and a beta of 1.68.

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

Wall Street Analysts Forecast Growth

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

About GMS

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.