20,000 Shares in GMS Inc (GMS) Purchased by Janney Capital Management LLC
Janney Capital Management LLC purchased a new stake in GMS Inc (NYSE:GMS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the company’s stock, valued at approximately $708,000.
Other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its holdings in shares of GMS by 213.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock valued at $100,000 after purchasing an additional 1,923 shares during the period. Legal & General Group Plc increased its holdings in shares of GMS by 403.2% in the second quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock valued at $160,000 after purchasing an additional 4,504 shares during the period. Macquarie Group Ltd. acquired a new position in shares of GMS in the third quarter valued at about $170,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of GMS by 386.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock valued at $182,000 after purchasing an additional 4,123 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of GMS in the third quarter valued at about $182,000. Institutional investors own 59.34% of the company’s stock.
A number of brokerages have recently weighed in on GMS. Barclays set a $43.00 price objective on GMS and gave the company a “buy” rating in a report on Friday. SunTrust Banks increased their price objective on GMS to $45.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of GMS in a report on Friday. Zacks Investment Research raised GMS from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Wells Fargo & Company began coverage on GMS in a report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.63.
In related news, CEO G Michael Callahan, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $34.52, for a total transaction of $431,500.00. Following the sale, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at $18,240,989.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO H Douglas Goforth sold 61,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $37.27, for a total value of $2,273,470.00. Following the sale, the chief financial officer now directly owns 82,563 shares in the company, valued at $3,077,123.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,676 shares of company stock worth $7,488,934. 5.90% of the stock is owned by corporate insiders.
GMS Inc (GMS) traded up $0.40 during trading on Tuesday, reaching $38.97. The company had a trading volume of 292,900 shares, compared to its average volume of 365,914. The firm has a market capitalization of $1,582.56, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.75 and a beta of 3.20. GMS Inc has a 12-month low of $25.87 and a 12-month high of $39.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.70 and a current ratio of 2.62.
GMS (NYSE:GMS) last posted its earnings results on Thursday, December 7th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $648.00 million for the quarter, compared to analyst estimates of $662.03 million. GMS had a return on equity of 14.24% and a net margin of 2.26%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. sell-side analysts anticipate that GMS Inc will post 2.01 earnings per share for the current fiscal year.
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GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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