State of New Jersey Common Pension Fund D Trims Position in GMS Inc. (NYSE:GMS)

State of New Jersey Common Pension Fund D decreased its holdings in GMS Inc. (NYSE:GMS) by 32.4% in the second quarter, HoldingsChannel.com reports. The fund owned 20,692 shares of the company’s stock after selling 9,906 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GMS were worth $1,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the period. GAMMA Investing LLC raised its stake in GMS by 107.6% in the first quarter. GAMMA Investing LLC now owns 793 shares of the company’s stock worth $77,000 after buying an additional 411 shares in the last quarter. EntryPoint Capital LLC bought a new position in GMS in the first quarter worth about $77,000. LRI Investments LLC purchased a new stake in GMS in the first quarter worth about $127,000. Finally, TFO Wealth Partners LLC boosted its position in GMS by 174,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,741 shares of the company’s stock valued at $144,000 after acquiring an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Performance

Shares of GMS stock opened at $88.42 on Thursday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 13.14 and a beta of 1.67. 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 Inc. has a 1 year low of $56.58 and a 1 year high of $101.04. The firm’s 50-day moving average is $89.48 and its 200 day moving average is $90.74.

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

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total transaction of $713,528.00. Following the transaction, the senior vice president now directly owns 10,671 shares of the company’s stock, valued at $963,804.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GMS. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Barclays decreased their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Royal Bank of Canada dropped their target price on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a report on Friday, June 21st. Stephens lowered their price target on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Finally, Truist Financial cut their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.63.

GMS 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.