Lord Abbett & CO. LLC Grows Position in GMS Inc. (NYSE:GMS)

Lord Abbett & CO. LLC increased its position in GMS Inc. (NYSE:GMS) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,374 shares of the company’s stock after purchasing an additional 5,833 shares during the period. Lord Abbett & CO. LLC owned 0.23% of GMS worth $8,185,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after acquiring an additional 113 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in GMS by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock worth $847,000 after purchasing an additional 162 shares during the period. Blue Trust Inc. grew its holdings in GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of GMS by 4.0% during the third quarter. Inspire Investing LLC now owns 4,582 shares of the company’s stock valued at $415,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by insiders.

GMS Price Performance

NYSE GMS opened at $90.89 on Tuesday. GMS Inc. has a one year low of $77.01 and a one year high of $105.54. The stock has a 50-day moving average of $96.08 and a 200 day moving average of $90.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 16.71 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.30 earnings per share. On average, sell-side analysts forecast that GMS Inc. will post 7.41 EPS for the current year.

Analysts Set New Price Targets

GMS has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 price target (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. DA Davidson cut their target price on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Robert W. Baird lowered their price target on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, December 6th. Barclays increased their price objective on shares of GMS from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Loop Capital lifted their target price on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, GMS has a consensus rating of “Hold” and an average target price of $95.43.

GMS Company 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.