Thrivent Financial for Lutherans Sells 1,930 Shares of GMS Inc. (NYSE:GMS)

Thrivent Financial for Lutherans cut its stake in GMS Inc. (NYSE:GMS) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,138 shares of the company’s stock after selling 1,930 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of GMS worth $2,820,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. KBC Group NV grew its holdings in GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after purchasing an additional 281 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of GMS during the third quarter worth $232,000. Victory Capital Management Inc. grew its holdings in shares of GMS by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after buying an additional 6,136 shares during the period. GSA Capital Partners LLP bought a new stake in shares of GMS in the 3rd quarter valued at $245,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of GMS by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after buying an additional 113 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GMS shares. Robert W. Baird lifted their target price on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial decreased their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. DA Davidson downgraded shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Tuesday. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Barclays dropped their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.50.

GMS Price Performance

NYSE GMS opened at $100.48 on Wednesday. The firm’s 50 day moving average is $93.90 and its 200-day moving average is $90.62. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.95 billion, a PE ratio of 16.58 and a beta of 1.68. GMS Inc. has a 12-month low of $65.46 and a 12-month high of $105.54.

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

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.