Swiss National Bank Has $7.01 Million Position in GMS Inc. (NYSE:GMS)

Swiss National Bank raised its position in GMS Inc. (NYSE:GMS) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,400 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Swiss National Bank’s holdings in GMS were worth $7,010,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GMS. American Century Companies Inc. raised its stake in GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after purchasing an additional 406,406 shares in the last quarter. LSV Asset Management lifted its holdings in shares of GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after acquiring an additional 350,478 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of GMS during the 2nd quarter worth approximately $24,601,000. Edgestream Partners L.P. bought a new position in GMS in the second quarter valued at approximately $5,402,000. Finally, Renaissance Technologies LLC raised its position in GMS by 95.4% during the second quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock valued at $10,882,000 after purchasing an additional 65,900 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

GMS Stock Performance

GMS stock opened at $100.48 on Wednesday. The business has a 50 day moving average of $93.90 and a 200-day moving average of $90.62. The company has a market capitalization of $3.95 billion, a P/E ratio of 16.58 and a beta of 1.68. GMS Inc. has a 1 year low of $65.46 and a 1 year high of $105.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45.

GMS (NYSE:GMS) last announced 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). The business 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%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 earnings per share. On average, equities research analysts predict that GMS Inc. will post 7.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GMS. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Loop Capital boosted their target price on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday. DA Davidson downgraded shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target on the stock. in a research note on Tuesday. Finally, Robert W. Baird upped their price objective 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.50.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

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.