Principal Financial Group Inc. Sells 1,129 Shares of GMS Inc. (NYSE:GMS)

Principal Financial Group Inc. lessened its position in shares of GMS Inc. (NYSE:GMS – Get Rating) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,715 shares of the company’s stock after selling 1,129 shares during the period. Principal Financial Group Inc.’s holdings in GMS were worth $13,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in GMS during the 4th quarter worth approximately $25,000. Ronald Blue Trust Inc. increased its holdings in GMS by 100.6% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,051 shares of the company’s stock worth $42,000 after acquiring an additional 527 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of GMS by 41.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 958 shares of the company’s stock worth $43,000 after buying an additional 279 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of GMS by 32.5% in the 3rd quarter. Royal Bank of Canada now owns 1,153 shares of the company’s stock worth $46,000 after buying an additional 283 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of GMS by 29.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,505 shares of the company’s stock worth $100,000 after buying an additional 569 shares during the last quarter. Institutional investors own 96.34% of the company’s stock.

Insider Buying and Selling at GMS

In other GMS news, COO George T. Hendren sold 800 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $60.00, for a total transaction of $48,000.00. Following the completion of the sale, the chief operating officer now owns 23,437 shares of the company’s stock, valued at approximately $1,406,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other GMS news, CEO John C. Turner, Jr. sold 876 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $59.50, for a total transaction of $52,122.00. Following the completion of the sale, the chief executive officer now owns 68,240 shares of the company’s stock, valued at approximately $4,060,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO George T. Hendren sold 800 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $60.00, for a total transaction of $48,000.00. Following the sale, the chief operating officer now directly owns 23,437 shares of the company’s stock, valued at approximately $1,406,220. The disclosure for this sale can be found here. Insiders sold 13,018 shares of company stock valued at $784,983 in the last quarter. Company insiders own 1.60% of the company’s stock.

GMS Price Performance

GMS stock opened at $63.99 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.58 and a current ratio of 2.53. GMS Inc. has a 52 week low of $36.10 and a 52 week high of $65.43. The firm’s fifty day moving average is $57.27 and its 200 day moving average is $55.21. The firm has a market cap of $2.64 billion, a P/E ratio of 8.25 and a beta of 1.84.

GMS (NYSE:GMS – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported $1.85 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.01). GMS had a net margin of 6.28% and a return on equity of 34.16%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted $1.74 EPS. GMS’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts predict that GMS Inc. will post 8.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GMS has been the topic of a number of research analyst reports. StockNews.com raised shares of GMS from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. Barclays increased their price target on shares of GMS from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

About GMS

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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.