Daiwa Securities Group Inc. cut its position in shares of GMS Inc. (NYSE:GMS) by 16.3% during the second quarter, Holdings Channel reports. The firm owned 60,700 shares of the company’s stock after selling 11,800 shares during the period. Daiwa Securities Group Inc.’s holdings in GMS were worth $1,706,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in GMS by 9.6% in the fourth quarter. State Street Corp now owns 123,409 shares of the company’s stock worth $3,611,000 after buying an additional 10,847 shares during the period. Nationwide Fund Advisors increased its stake in GMS by 1,496.5% in the first quarter. Nationwide Fund Advisors now owns 73,185 shares of the company’s stock worth $2,564,000 after buying an additional 68,601 shares during the period. Russell Investments Group Ltd. bought a new stake in GMS during the first quarter worth about $627,000. Emerald Mutual Fund Advisers Trust increased its stake in GMS by 3.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 532,113 shares of the company’s stock worth $18,645,000 after buying an additional 15,870 shares during the period. Finally, Emerald Advisers Inc. PA increased its stake in GMS by 7.8% in the first quarter. Emerald Advisers Inc. PA now owns 704,465 shares of the company’s stock worth $24,684,000 after buying an additional 50,683 shares during the period. 42.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of GMS Inc. (GMS) opened at 29.60 on Wednesday. GMS Inc. has a 1-year low of $20.23 and a 1-year high of $36.99. The stock has a 50 day moving average of $29.74 and a 200-day moving average of $31.96. The stock has a market capitalization of $1.21 billion, a P/E ratio of 24.87 and a beta of 3.53.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. GMS had a net margin of 2.11% and a return on equity of 14.15%. The business had revenue of $615 million for the quarter, compared to analysts’ expectations of $614.93 million. During the same period last year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts predict that GMS Inc. will post $1.99 earnings per share for the current fiscal year.

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GMS has been the topic of a number of research analyst reports. ValuEngine raised shares of GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $38.00 price target on shares of GMS in a research note on Monday, June 19th. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, July 3rd. Stephens reduced their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Finally, Zacks Investment Research downgraded shares of GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.17.

In related news, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $31,680,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard Alan Adams sold 83,950 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the completion of the transaction, the senior vice president now owns 170,000 shares in the company, valued at approximately $5,385,600. The disclosure for this sale can be found here. Insiders sold 3,986,079 shares of company stock worth $126,278,983 in the last 90 days.

About GMS

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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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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