American Century Companies Inc. trimmed its position in shares of GMS Inc (NYSE:GMS) by 51.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,255 shares of the company’s stock after selling 220,993 shares during the quarter. American Century Companies Inc. owned approximately 0.51% of GMS worth $7,443,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of GMS by 49.4% in the first quarter. Bank of New York Mellon Corp now owns 45,055 shares of the company’s stock worth $1,578,000 after acquiring an additional 14,893 shares during the period. American International Group Inc. lifted its stake 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 acquiring an additional 288 shares during the period. Vanguard Group Inc. lifted its stake in shares of GMS by 71.6% in the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock worth $69,142,000 after acquiring an additional 822,997 shares during the period. Geode Capital Management LLC lifted its stake in shares of GMS by 203.8% in the first quarter. Geode Capital Management LLC now owns 141,483 shares of the company’s stock worth $4,957,000 after acquiring an additional 94,910 shares during the period. Finally, Morgan Stanley lifted its stake in GMS by 92.0% in the first quarter. Morgan Stanley now owns 51,124 shares of the company’s stock valued at $1,792,000 after buying an additional 24,490 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GMS Inc (NYSE:GMS) traded up $0.69 during midday trading on Wednesday, hitting $39.01. The stock had a trading volume of 690,301 shares, compared to its average volume of 364,355. GMS Inc has a 1 year low of $25.44 and a 1 year high of $39.53. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.80 and a quick ratio of 1.82. The stock has a market cap of $1,558.53, a PE ratio of 21.99, a PEG ratio of 2.70 and a beta of 3.20.
GMS has been the topic of several recent analyst reports. Zacks Investment Research raised GMS from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Royal Bank Of Canada boosted their price objective on GMS from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. Robert W. Baird restated a “buy” rating and set a $37.00 price objective on shares of GMS in a report on Monday, October 9th. Wells Fargo & Company started coverage on GMS in a report on Wednesday, October 18th. They set a “market perform” rating and a $38.00 price objective for the company. Finally, SunTrust Banks reiterated a “buy” rating and set a $40.00 price target on shares of GMS in a report on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $37.38.
In other GMS news, insider Lynn Ross sold 1,894 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.77, for a total value of $65,854.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO H Douglas Goforth sold 102,282 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.57, for a total value of $3,842,734.74. Following the completion of the transaction, the chief financial officer now owns 82,563 shares in the company, valued at $3,101,891.91. The disclosure for this sale can be found here. Insiders have sold a total of 202,676 shares of company stock worth $7,488,934 in the last three months. 5.90% of the stock is currently owned by insiders.
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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