Arizona State Retirement System Has $854,000 Stock Holdings in GMS Inc. (NYSE:GMS)

Arizona State Retirement System boosted its position in shares of GMS Inc. (NYSE:GMS) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,595 shares of the company’s stock after purchasing an additional 199 shares during the period. Arizona State Retirement System’s holdings in GMS were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc grew its position in GMS by 24.8% in the second quarter. TD Asset Management Inc now owns 79,946 shares of the company’s stock worth $6,444,000 after acquiring an additional 15,900 shares in the last quarter. Versor Investments LP bought a new stake in GMS in the second quarter worth $709,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in GMS by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,277 shares of the company’s stock worth $748,000 after buying an additional 908 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. bought a new position in GMS during the second quarter valued at about $24,601,000. Finally, Louisiana State Employees Retirement System lifted its position in shares of GMS by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $1,612,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Performance

NYSE GMS opened at $86.22 on Friday. The company’s fifty day moving average is $88.73 and its two-hundred day moving average is $90.72. GMS Inc. has a 52-week low of $56.58 and a 52-week high of $101.04. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 12.81 and a beta of 1.67.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GMS. DA Davidson lowered their price objective on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Stephens reduced their price objective on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Loop Capital lowered their target price on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Truist Financial decreased their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, GMS presently has a consensus rating of “Hold” and an average price target of $89.63.

Insider Activity

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the transaction, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

About GMS

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.