West Tower Group LLC Sells 500 Shares of GMS Inc. (NYSE:GMS)

West Tower Group LLC cut its holdings in shares of GMS Inc. (NYSE:GMS) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,500 shares of the company’s stock after selling 500 shares during the quarter. GMS comprises 2.0% of West Tower Group LLC’s investment portfolio, making the stock its 12th largest holding. West Tower Group LLC’s holdings in GMS were worth $951,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GMS. American Century Companies Inc. increased its position in GMS by 28.5% during the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after acquiring an additional 406,406 shares during the period. LSV Asset Management grew 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 purchasing an additional 350,478 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of GMS in the 2nd quarter valued at $24,601,000. Edgestream Partners L.P. bought a new position in shares of GMS during the 2nd quarter worth about $5,402,000. Finally, Renaissance Technologies LLC increased its stake in GMS by 95.4% in the second quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock valued at $10,882,000 after acquiring an additional 65,900 shares during the period. 95.28% of the stock is owned by institutional investors.

GMS Stock Up 2.1 %

NYSE GMS opened at $103.82 on Tuesday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 17.13 and a beta of 1.68. GMS Inc. has a 52 week low of $65.46 and a 52 week high of $105.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The stock has a fifty day moving average of $93.61 and a 200-day moving average of $90.55.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The firm had revenue of $1.45 billion during 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 revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.40 earnings per share. On average, equities research analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GMS shares. Barclays lowered their price target 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. Robert W. Baird boosted their price target on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Loop Capital increased their price target on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.50.

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.