US Bancorp DE Reduces Stock Position in GMS Inc. (NYSE:GMS)

US Bancorp DE lowered its stake in shares of GMS Inc. (NYSE:GMS) by 84.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the company’s stock after selling 8,579 shares during the quarter. US Bancorp DE’s holdings in GMS were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GMS. Westwood Holdings Group Inc. acquired a new stake in GMS during the 1st quarter worth approximately $68,693,000. American Century Companies Inc. increased its position in shares of GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after buying an additional 406,406 shares in the last quarter. LSV Asset Management increased its holdings in GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after acquiring an additional 350,478 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of GMS during the 2nd quarter worth approximately $24,601,000. Finally, Interval Partners LP acquired a new position in shares of GMS in the first quarter worth $8,761,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Truist Financial cut their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, Barclays cut their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, GMS presently has a consensus rating of “Hold” and an average price target of $91.50.

GMS Stock Up 0.1 %

GMS stock opened at $99.83 on Friday. The firm has a 50 day simple moving average of $92.03 and a 200-day simple moving average of $90.42. The company has a market capitalization of $3.92 billion, a P/E ratio of 16.47 and a beta of 1.68. GMS Inc. has a twelve month low of $64.28 and a twelve month high of $103.56. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

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). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. On average, equities research analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 $2,427,834.36. This represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

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.