State of New Jersey Common Pension Fund D Has $3.13 Million Stock Holdings in GMS Inc. (NYSE:GMS)

State of New Jersey Common Pension Fund D boosted its holdings in shares of GMS Inc. (NYSE:GMS) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,911 shares of the company’s stock after buying an additional 4,149 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in GMS were worth $3,125,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of GMS during the 4th quarter worth about $32,000. CI Investments Inc. bought a new stake in shares of GMS in the 3rd quarter valued at about $155,000. Allspring Global Investments Holdings LLC raised its position in shares of GMS by 9.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,602 shares of the company’s stock valued at $230,000 after acquiring an additional 316 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in GMS during the 3rd quarter worth approximately $234,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 10,554 shares of GMS stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the sale, the chief operating officer now directly owns 23,261 shares in the company, valued at approximately $2,244,453.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Craig D. Apolinsky sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the sale, the senior vice president now owns 10,360 shares in the company, valued at $1,000,465.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO George T. Hendren sold 10,554 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the transaction, the chief operating officer now owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,820 shares of company stock worth $3,561,192. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GMS. Truist Financial upped their target price on shares of GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Stephens upped their price objective on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. StockNews.com upgraded GMS from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Robert W. Baird boosted their target price on GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Barclays raised their price target on GMS from $75.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.63.

GMS Stock Performance

Shares of GMS stock opened at $92.89 on Friday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 13.01 and a beta of 1.73. The stock’s 50-day moving average is $93.33 and its 200-day moving average is $80.49. GMS Inc. has a one year low of $54.99 and a one year high of $101.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.47.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). GMS had a net margin of 5.48% and a return on equity of 25.65%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that GMS Inc. will post 8.36 earnings per share for the current fiscal year.

GMS Profile

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.