Livforsakringsbolaget Skandia Omsesidigt Sells 3,600 Shares of GMS Inc. (NYSE:GMS)

Livforsakringsbolaget Skandia Omsesidigt cut its position in GMS Inc. (NYSE:GMS) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,314 shares of the company’s stock after selling 3,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.08% of GMS worth $2,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GMS. Marotta Asset Management acquired a new stake in shares of GMS in the 2nd quarter valued at $748,000. Prelude Capital Management LLC lifted its holdings in shares of GMS by 14.2% in the first quarter. Prelude Capital Management LLC now owns 69,056 shares of the company’s stock worth $3,998,000 after acquiring an additional 8,564 shares during the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in shares of GMS in the 1st quarter valued at approximately $41,000. JPMorgan Chase & Co. grew its holdings in shares of GMS by 21.9% during the first quarter. JPMorgan Chase & Co. now owns 613,047 shares of the company’s stock worth $35,489,000 after purchasing an additional 110,185 shares during the last quarter. Finally, State Street Corp raised its stake in shares of GMS by 0.5% during the first quarter. State Street Corp now owns 1,596,626 shares of the company’s stock valued at $92,429,000 after acquiring an additional 7,235 shares during the last quarter. Institutional investors own 97.88% of the company’s stock.

GMS Price Performance

NYSE:GMS traded up $1.09 during mid-day trading on Thursday, reaching $65.55. The stock had a trading volume of 32,247 shares, compared to its average volume of 294,065. The stock has a market capitalization of $2.66 billion, a P/E ratio of 8.23 and a beta of 1.87. The firm has a 50 day moving average price of $70.78 and a two-hundred day moving average price of $64.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.38 and a current ratio of 2.37. GMS Inc. has a one year low of $38.31 and a one year high of $76.14.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 31st. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.01. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. GMS had a net margin of 6.14% and a return on equity of 30.62%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.43 earnings per share. As a group, analysts expect that GMS Inc. will post 8.09 earnings per share for the current year.

Insider Activity at GMS

In other news, major shareholder Coliseum Capital Management, L sold 800,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $66.06, for a total transaction of $52,848,000.00. Following the sale, the insider now owns 4,772,485 shares in the company, valued at approximately $315,270,359.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Craig D. Apolinsky sold 16,950 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $71.48, for a total transaction of $1,211,586.00. Following the sale, the senior vice president now directly owns 9,870 shares of the company’s stock, valued at $705,507.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Coliseum Capital Management, L sold 800,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $66.06, for a total value of $52,848,000.00. Following the completion of the transaction, the insider now directly owns 4,772,485 shares of the company’s stock, valued at approximately $315,270,359.10. The disclosure for this sale can be found here. Insiders have sold 1,435,986 shares of company stock worth $96,764,226 over the last 90 days. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GMS. Loop Capital increased their target price on shares of GMS from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, September 1st. Raymond James upped their target price on shares of GMS from $70.00 to $82.00 in a report on Friday, June 23rd. Barclays lifted their price target on GMS from $67.00 to $75.00 in a research note on Friday, June 23rd. Stephens increased their price objective on GMS from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, September 1st. Finally, VNET Group reissued a “maintains” rating on shares of GMS in a research report on Tuesday, June 27th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.88.

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.