Massachusetts Financial Services Co. MA Increases Stake in GMS Inc. (NYSE:GMS)

Massachusetts Financial Services Co. MA grew its holdings in shares of GMS Inc. (NYSE:GMS) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,882 shares of the company’s stock after purchasing an additional 1,534 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.27% of GMS worth $9,590,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. American Century Companies Inc. lifted its position in GMS by 28.5% during the second 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 in the last quarter. Pacer Advisors Inc. boosted its position in shares of GMS by 0.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after acquiring an additional 6,396 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of GMS by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after acquiring an additional 9,516 shares during the last quarter. Westwood Holdings Group Inc. increased its position in GMS by 4.8% during the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after purchasing an additional 34,205 shares during the last quarter. Finally, LSV Asset Management raised its stake in GMS by 103.0% during the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after purchasing an additional 350,478 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson downgraded shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target for the company. in a report on Tuesday. Robert W. Baird lifted their target price on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Loop Capital increased their price target on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday. Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Finally, Truist Financial lowered their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.50.

Insider Activity at GMS

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

GMS Trading Down 3.2 %

NYSE GMS opened at $100.48 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 16.58 and a beta of 1.68. The firm has a 50 day simple moving average of $93.90 and a 200-day simple moving average of $90.62. GMS Inc. has a one year low of $65.46 and a one year high of $105.54.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business earned $2.40 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that GMS Inc. will post 7.95 EPS for the current fiscal year.

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.