Franklin Resources Inc. Trims Stake in GMS Inc. (NYSE:GMS)

Franklin Resources Inc. trimmed its position in GMS Inc. (NYSE:GMS) by 34.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,143 shares of the company’s stock after selling 16,918 shares during the quarter. Franklin Resources Inc. owned 0.08% of GMS worth $3,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in GMS by 25.3% in the third quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after acquiring an additional 854,987 shares during the period. American Century Companies Inc. lifted its position in shares of GMS by 28.5% in the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after purchasing an additional 406,406 shares during the period. LSV Asset Management boosted its stake in shares of GMS by 103.0% during the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares in the last quarter. Weiss Asset Management LP purchased a new position in GMS during the third quarter valued at approximately $12,490,000. Finally, Verition Fund Management LLC raised its stake in GMS by 48.3% in the third quarter. Verition Fund Management LLC now owns 340,388 shares of the company’s stock worth $30,829,000 after buying an additional 110,876 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

Analysts Set New Price Targets

GMS has been the topic of several recent research reports. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $86.00 target price (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. Loop Capital increased their price target on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Robert W. Baird cut their price objective on shares of GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, December 6th. Finally, Truist Financial increased their target price on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.43.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

GMS Stock Up 1.0 %

NYSE:GMS opened at $86.80 on Thursday. The company’s 50 day moving average is $95.34 and its two-hundred day moving average is $90.75. The company has a market cap of $3.37 billion, a PE ratio of 15.96 and a beta of 1.68. GMS Inc. has a twelve month low of $77.01 and a twelve month high of $105.54. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last released its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $2.30 earnings per share. GMS’s revenue was up 3.5% on a year-over-year basis. Analysts anticipate that GMS Inc. will post 7.41 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.