Wells Fargo & Company MN Reduces Holdings in GMS Inc (GMS)

Wells Fargo & Company MN lessened its stake in shares of GMS Inc (NYSE:GMS) by 52.0% in the 3rd quarter, Holdings Channel reports. The firm owned 50,122 shares of the company’s stock after selling 54,260 shares during the period. Wells Fargo & Company MN’s holdings in GMS were worth $1,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of GMS by 16.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 370,607 shares of the company’s stock valued at $10,040,000 after purchasing an additional 51,400 shares during the last quarter. Davidson Kempner Capital Management LP raised its position in shares of GMS by 116.7% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 325,000 shares of the company’s stock valued at $8,804,000 after buying an additional 175,000 shares in the last quarter. Sei Investments Co. raised its position in shares of GMS by 425.9% during the 2nd quarter. Sei Investments Co. now owns 22,889 shares of the company’s stock valued at $620,000 after buying an additional 18,537 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of GMS by 273.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 215,048 shares of the company’s stock valued at $5,826,000 after buying an additional 157,448 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of GMS by 13.7% during the 2nd quarter. BlackRock Inc. now owns 2,176,031 shares of the company’s stock valued at $58,949,000 after buying an additional 262,423 shares in the last quarter. 74.57% of the stock is owned by institutional investors and hedge funds.

GMS stock opened at $17.97 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.78 and a current ratio of 2.75. GMS Inc has a 1-year low of $13.61 and a 1-year high of $38.65. The stock has a market capitalization of $759.39 million, a P/E ratio of 8.94, a PEG ratio of 0.85 and a beta of 2.13.

GMS (NYSE:GMS) last posted its quarterly earnings data on Tuesday, December 4th. The company reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.06). GMS had a return on equity of 17.36% and a net margin of 2.23%. The firm had revenue of $833.80 million during the quarter, compared to analysts’ expectations of $830.54 million. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. Sell-side analysts expect that GMS Inc will post 3.08 EPS for the current fiscal year.

GMS has been the topic of several recent research reports. Royal Bank of Canada set a $25.00 target price on shares of GMS and gave the company a “buy” rating in a research report on Thursday, December 6th. Northcoast Research raised shares of GMS to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, December 20th. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a research report on Friday, December 28th. Stephens set a $22.00 price objective on shares of GMS and gave the stock a “buy” rating in a research report on Monday, December 10th. Finally, Nomura set a $29.00 price objective on shares of GMS and gave the stock a “buy” rating in a research report on Monday, December 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.09.

In related news, Director Ronald R. Ross bought 100,000 shares of the company’s stock in a transaction on Wednesday, December 12th. The shares were acquired at an average cost of $15.63 per share, for a total transaction of $1,563,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $156,300. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Company MN Reduces Holdings in GMS Inc (GMS)” was published by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.com-unik.info/2019/01/12/wells-fargo-company-mn-reduces-holdings-in-gms-inc-gms.html.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

See Also: What is a stock split?

Want to see what other hedge funds are holding GMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GMS Inc (NYSE:GMS).

Institutional Ownership by Quarter for GMS (NYSE:GMS)

Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit