GMS Inc . (NYSE:GMS), a leading distributor of construction products, reported that its President and CEO, John C. Turner Jr., has sold a total of 6,266 shares of the company's common stock. The transaction, which took place on March 21, 2024, amounted to over $611,436 at an average price of $97.58 per share.
The shares were sold in a series of transactions at prices ranging from $97.44 to $97.72. Following the sale, Turner still owns a substantial number of shares in GMS, with his holdings standing at 48,074 shares of common stock, as indicated in the footnotes of the SEC filing.
The sale by Turner comes as a notable transaction by a key executive of GMS Inc., and it is reported in accordance with the Securities and Exchange Commission regulations. The exact distribution of shares sold at each price point within the range has been made available upon request, showcasing the transparency of the process.
Investors often keep a close eye on insider transactions as they may provide insights into executives' perspectives on the company's future performance. GMS Inc., with its significant presence in the wholesale distribution of lumber and other construction materials, continues to be a key player in the industry.
The SEC filing was signed on behalf of John C. Turner Jr. by Attorney-in-Fact Craig D. Apolinsky on March 22, 2024, one day after the reported transactions took place.
InvestingPro Insights
As investors analyze the recent insider selling by GMS Inc.'s CEO, John C. Turner Jr., they may also consider the latest metrics and analyst insights to gauge the stock's current standing and future potential. According to InvestingPro data, GMS has a market capitalization of $3.85 billion and an attractive P/E ratio of 13.22, which further adjusts to 12.89 when looking at the last twelve months as of Q3 2024. These figures suggest a company that is reasonably valued in the market relative to its earnings.
The company's stock has experienced a significant price uptick, boasting a 55.61% return over the last six months and a striking 79.54% return over the past year. This strong performance is echoed by the stock trading near its 52-week high, at 98.14% of the peak price. The robust returns are indicative of a positive trend, which may align with InvestingPro Tips highlighting that analysts predict the company will be profitable this year and have revised their earnings upwards for the upcoming period.
Despite the CEO's sale of shares, GMS's financial health appears solid, with liquid assets exceeding short-term obligations, as noted in another InvestingPro Tip. This could provide reassurance to investors concerned about the company's liquidity and ability to meet its immediate financial commitments. For those seeking further insights, there are additional tips available on InvestingPro, including perspectives on the stock's volatility and the company's performance over longer timeframes.
For investors looking to delve deeper into GMS's stock analysis and gain access to a comprehensive set of InvestingPro Tips, they can explore the dedicated page at https://www.investing.com/pro/GMS. Moreover, by using the coupon code PRONEWS24, investors can enjoy an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing them with an even greater value as they navigate the complexities of the market.
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