GMS Inc. (NYSE:GMS) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC reduced its position in shares of GMS Inc. (NYSE:GMS) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,790 shares of the company’s stock after selling 4,494 shares during the period. TIAA CREF Investment Management LLC’s holdings in GMS were worth $1,640,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of GMS. American International Group Inc. increased its position in shares of GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after buying an additional 288 shares during the last quarter. Alambic Investment Management L.P. bought a new position in shares of GMS during the first quarter worth approximately $203,000. TFS Capital LLC bought a new position in shares of GMS during the first quarter worth approximately $221,000. Russell Investments Group Ltd. bought a new position in shares of GMS during the first quarter worth approximately $627,000. Finally, Spark Investment Management LLC bought a new position in shares of GMS during the first quarter worth approximately $823,000. Institutional investors and hedge funds own 42.01% of the company’s stock.
Shares of GMS Inc. (NYSE:GMS) traded up 1.46% on Friday, reaching $29.26. The company had a trading volume of 106,177 shares. GMS Inc. has a 12 month low of $20.23 and a 12 month high of $36.99. The company’s 50-day moving average is $29.47 and its 200 day moving average is $31.96. The firm has a market capitalization of $1.20 billion, a PE ratio of 24.59 and a beta of 3.53.
GMS (NYSE:GMS) last issued its earnings results on Thursday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. GMS had a return on equity of 14.15% and a net margin of 2.11%. The business had revenue of $615 million during the quarter, compared to analysts’ expectations of $614.93 million. During the same period in the prior year, the firm posted $0.53 EPS. GMS’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts forecast that GMS Inc. will post $1.99 earnings per share for the current year.
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GMS has been the subject of a number of recent research reports. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens lowered their price objective on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $38.00 price objective on shares of GMS in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $36.17.
In related news, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total transaction of $31,680,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard Alan Adams sold 83,950 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $2,659,536.00. Following the sale, the senior vice president now directly owns 170,000 shares of the company’s stock, valued at $5,385,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,986,079 shares of company stock valued at $126,278,983.
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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