Maryland State Retirement & Pension System Decreases Stake in GMS Inc. (NYSE:GMS)

Maryland State Retirement & Pension System lessened its stake in shares of GMS Inc. (NYSE:GMS) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,753 shares of the company’s stock after selling 265 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GMS were worth $1,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GMS. Pacer Advisors Inc. boosted its position in GMS by 57.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,250,370 shares of the company’s stock valued at $103,068,000 after buying an additional 456,692 shares during the period. Deutsche Bank AG grew its stake in shares of GMS by 58.3% in the third quarter. Deutsche Bank AG now owns 270,444 shares of the company’s stock worth $17,300,000 after purchasing an additional 99,612 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in GMS by 34.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 312,191 shares of the company’s stock valued at $19,971,000 after purchasing an additional 79,561 shares during the period. Federated Hermes Inc. raised its position in GMS by 8.1% during the 4th quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock valued at $83,967,000 after purchasing an additional 76,417 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in GMS by 28.8% in the 3rd quarter. Acadian Asset Management LLC now owns 259,075 shares of the company’s stock worth $16,565,000 after buying an additional 57,960 shares during the period. Institutional investors own 95.28% of the company’s stock.

GMS Stock Performance

Shares of GMS opened at $93.07 on Thursday. GMS Inc. has a 52 week low of $56.58 and a 52 week high of $101.04. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.70 billion, a P/E ratio of 13.03 and a beta of 1.71. The business’s 50 day moving average price is $94.08 and its 200-day moving average price is $82.46.

GMS (NYSE:GMS) last released its 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). The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GMS had a return on equity of 25.65% and a net margin of 5.48%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 earnings per share. Equities research analysts anticipate that GMS Inc. will post 8.36 earnings per share for the current fiscal year.

Insider Activity at GMS

In other news, CEO John C. Turner, Jr. sold 6,266 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total value of $611,436.28. Following the transaction, the chief executive officer now owns 48,074 shares in the company, valued at $4,691,060.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO George T. Hendren sold 10,554 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $96.49, for a total value of $1,018,355.46. Following the transaction, the chief operating officer now directly owns 23,261 shares in the company, valued at $2,244,453.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. Turner, Jr. sold 6,266 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total value of $611,436.28. Following the completion of the transaction, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,820 shares of company stock valued at $3,561,192. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

GMS has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Truist Financial raised their target price on shares of GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Robert W. Baird boosted their price target on shares of GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Barclays raised their price objective on shares of GMS from $75.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 5th. Finally, StockNews.com lowered GMS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.63.

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.