Swiss National Bank Purchases 2,900 Shares of GMS Inc. (NYSE:GMS)

Swiss National Bank lifted its position in shares of GMS Inc. (NYSE:GMS) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,400 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. Swiss National Bank owned 0.20% of GMS worth $7,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares in the last quarter. Quarry LP raised its position in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares in the last quarter. KBC Group NV grew its position in shares of GMS by 31.9% in the 3rd 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. Finally, Canada Pension Plan Investment Board bought a new stake in GMS during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Stock Down 3.2 %

NYSE:GMS opened at $100.48 on Wednesday. GMS Inc. has a twelve month low of $65.46 and a twelve month high of $105.54. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 16.58 and a beta of 1.68. 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 stock’s 50 day moving average price is $93.90 and its two-hundred day moving average price is $90.62.

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

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.