Louisiana State Employees Retirement System Cuts Holdings in GMS Inc. (NYSE:GMS)

Louisiana State Employees Retirement System lowered its position in GMS Inc. (NYSE:GMS) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 18,300 shares of the company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GMS were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. AlphaQuest LLC lifted its position in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after buying an additional 325 shares in the last quarter. Eukles Asset Management bought a new position in GMS in the first quarter worth approximately $33,000. Canada Pension Plan Investment Board bought a new position in GMS in the fourth quarter worth approximately $34,000. Versant Capital Management Inc lifted its holdings in GMS by 170.5% during the first quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after buying an additional 445 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in GMS by 38.3% during the first quarter. GAMMA Investing LLC now owns 801 shares of the company’s stock worth $59,000 after buying an additional 222 shares during the period. Institutional investors own 95.28% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares of the company’s stock, valued at approximately $383,691,966.20. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer directly owned 23,950 shares of the company’s stock, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 343,627 shares of company stock valued at $37,808,097. Company insiders own 1.90% of the company’s stock.

GMS Stock Performance

NYSE:GMS opened at $110.00 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.19 billion, a P/E ratio of 38.06 and a beta of 1.71. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $110.28. The firm’s 50 day moving average is $88.43 and its two-hundred day moving average is $81.29.

GMS (NYSE:GMS) last issued 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. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm posted $1.93 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that GMS Inc. will post 7.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GMS. Royal Bank Of Canada upped their target price on GMS from $95.20 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 1st. Raymond James Financial lowered shares of GMS from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 25th. Baird R W downgraded shares of GMS from a “strong-buy” rating to a “hold” rating in a report on Monday, June 23rd. Stephens downgraded 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 note on Friday, June 27th. Finally, Truist Financial lifted their price objective on shares of GMS from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, July 1st. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.11.

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.