Vanguard Personalized Indexing Management LLC Lowers Position in GMS Inc. (NYSE:GMS)

Vanguard Personalized Indexing Management LLC decreased its holdings in shares of GMS Inc. (NYSE:GMS) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,156 shares of the company’s stock after selling 199 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in GMS were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its stake in GMS by 4.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,447 shares of the company’s stock worth $681,000 after buying an additional 361 shares in the last quarter. Edgestream Partners L.P. purchased a new position in GMS in the second quarter worth $5,402,000. Renaissance Technologies LLC increased its stake in GMS by 95.4% in the second quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock valued at $10,882,000 after acquiring an additional 65,900 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in GMS by 11.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 104,348 shares of the company’s stock valued at $8,411,000 after purchasing an additional 11,120 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in GMS by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after purchasing an additional 9,516 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Insider Buying and Selling

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the transaction, the senior vice president now directly owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GMS has been the topic of several recent research reports. Robert W. Baird reduced their price objective on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 21st. DA Davidson decreased their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Barclays cut their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, Royal Bank of Canada cut their price target on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, GMS currently has a consensus rating of “Hold” and an average price target of $89.63.

GMS Stock Performance

Shares of NYSE:GMS opened at $90.76 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $89.47 and a 200-day moving average price of $90.71. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 13.49 and a beta of 1.67. GMS Inc. has a 12 month low of $56.58 and a 12 month high of $101.04.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $2.40 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that GMS Inc. will post 7.95 EPS 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.