CANADA LIFE ASSURANCE Co Lowers Stock Position in GMS Inc. (NYSE:GMS)

CANADA LIFE ASSURANCE Co trimmed its position in GMS Inc. (NYSE:GMS) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,687 shares of the company’s stock after selling 990 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in GMS were worth $4,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its position in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the period. Canada Pension Plan Investment Board purchased a new stake in GMS in the 4th quarter worth $34,000. Blue Trust Inc. raised its holdings in GMS by 71.3% during the fourth quarter. Blue Trust Inc. now owns 685 shares of the company’s stock valued at $62,000 after acquiring an additional 285 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock valued at $84,000 after acquiring an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of GMS in the fourth quarter worth about $193,000. Institutional investors own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group set a $80.00 price target on GMS in a report on Friday, March 7th. Robert W. Baird dropped their target price on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Truist Financial cut their target price on shares of GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada decreased their price target on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Finally, DA Davidson cut their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.50.

Insider Activity

In other news, CEO John C. Turner, Jr. purchased 3,650 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer now owns 66,928 shares of the company’s stock, valued at approximately $4,684,960. This trade represents a 5.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

GMS Stock Performance

Shares of NYSE:GMS opened at $73.55 on Friday. The firm has a fifty day simple moving average of $74.24 and a two-hundred day simple moving average of $84.92. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2.82 billion, a P/E ratio of 13.52 and a beta of 1.62.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, analysts expect that GMS Inc. will post 7.26 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.