Putnam Investments LLC reduced its stake in GMS Inc. (NYSE:GMS – Get Rating) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,473 shares of the company’s stock after selling 409 shares during the period. Putnam Investments LLC owned about 0.05% of GMS worth $899,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of GMS. Raymond James & Associates increased its stake in GMS by 1.4% in the 1st quarter. Raymond James & Associates now owns 29,964 shares of the company’s stock worth $1,491,000 after purchasing an additional 404 shares during the period. HighTower Advisors LLC purchased a new position in GMS in the 1st quarter worth approximately $1,434,000. PNC Financial Services Group Inc. increased its stake in GMS by 66.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,781 shares of the company’s stock worth $238,000 after purchasing an additional 1,902 shares during the period. Bank of Montreal Can grew its position in shares of GMS by 10.7% in the 1st quarter. Bank of Montreal Can now owns 14,191 shares of the company’s stock worth $759,000 after buying an additional 1,373 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of GMS by 57.5% in the 1st quarter. MetLife Investment Management LLC now owns 23,173 shares of the company’s stock worth $1,153,000 after buying an additional 8,460 shares during the last quarter. 96.34% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at GMS
In other GMS news, CEO John C. Turner, Jr. sold 876 shares of GMS stock in a transaction on Monday, March 6th. The stock was sold at an average price of $59.50, for a total transaction of $52,122.00. Following the completion of the transaction, the chief executive officer now owns 68,240 shares in the company, valued at $4,060,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John C. Turner, Jr. sold 876 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $59.50, for a total value of $52,122.00. Following the completion of the transaction, the chief executive officer now owns 68,240 shares in the company, valued at $4,060,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Turner, Jr. sold 1,526 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $59.50, for a total value of $90,797.00. Following the completion of the transaction, the chief executive officer now owns 63,110 shares of the company’s stock, valued at approximately $3,755,045. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,468 shares of company stock worth $1,062,921. 1.60% of the stock is owned by insiders.
GMS Stock Down 4.9 %
GMS (NYSE:GMS – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.01). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.21 billion. GMS had a net margin of 6.28% and a return on equity of 34.16%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. On average, research analysts anticipate that GMS Inc. will post 8.92 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Stephens lifted their price objective on GMS from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, December 12th. StockNews.com upgraded GMS from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 28th. Royal Bank of Canada lifted their price target on GMS from $51.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday, December 9th. Robert W. Baird lifted their price target on GMS from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 24th. Finally, Loop Capital lowered GMS from a “buy” rating to a “hold” rating and lifted their price target for the company from $52.00 to $60.00 in a research report on Friday, December 9th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.
GMS Profile
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.
Further Reading
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