Zimmer Partners LP Reduces Holdings in GMS Inc. (NYSE:GMS)

Zimmer Partners LP decreased its position in shares of GMS Inc. (NYSE:GMS) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,000 shares of the company’s stock after selling 5,000 shares during the period. Zimmer Partners LP’s holdings in GMS were worth $9,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GMS. FMR LLC increased its stake in GMS by 25.3% during the 3rd quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after buying an additional 854,987 shares during the period. American Century Companies Inc. increased its stake in GMS by 28.5% during the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after buying an additional 406,406 shares during the period. LSV Asset Management increased its stake in GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after buying an additional 350,478 shares during the period. Van Lanschot Kempen Investment Management N.V. purchased a new stake in GMS during the 2nd quarter worth $24,601,000. Finally, Weiss Asset Management LP acquired a new position in GMS during the 3rd quarter worth $12,490,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on GMS. DA Davidson decreased their price objective on shares of GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price objective (up from $78.00) on shares of GMS in a report on Friday. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird decreased their price objective on shares of GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Finally, Loop Capital raised their price objective 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 three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.25.

GMS Trading Down 0.7 %

GMS stock opened at $97.06 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $95.68 and a two-hundred day moving average price of $91.02. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.84 and a beta of 1.68. GMS Inc. has a 52-week low of $68.13 and a 52-week high of $105.54.

GMS (NYSE:GMS) last posted its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 earnings per share. Sell-side analysts expect that GMS Inc. will post 7.95 earnings per share for the current year.

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.