Truist Financial Corp Sells 551 Shares of GMS Inc. (NYSE:GMS)

Truist Financial Corp reduced its stake in GMS Inc. (NYSE:GMS) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,494 shares of the company’s stock after selling 551 shares during the quarter. Truist Financial Corp’s holdings in GMS were worth $519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of GMS by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,242,989 shares of the company’s stock valued at $209,773,000 after buying an additional 154,926 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in GMS by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,552,203 shares of the company’s stock worth $147,743,000 after acquiring an additional 40,521 shares during the period. American Century Companies Inc. lifted its holdings in GMS by 10.5% during the first quarter. American Century Companies Inc. now owns 1,903,763 shares of the company’s stock valued at $110,209,000 after purchasing an additional 181,514 shares in the last quarter. State Street Corp boosted its position in shares of GMS by 0.5% in the first quarter. State Street Corp now owns 1,596,626 shares of the company’s stock worth $92,429,000 after purchasing an additional 7,235 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of GMS by 20.7% in the first quarter. Federated Hermes Inc. now owns 799,760 shares of the company’s stock worth $46,298,000 after purchasing an additional 136,975 shares in the last quarter. 97.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GMS. Loop Capital upped their target price on shares of GMS from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, September 1st. DA Davidson assumed coverage on GMS in a research note on Tuesday, August 22nd. They set a “buy” rating and a $82.00 target price on the stock. Stephens upped their price target on GMS from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, September 1st. Robert W. Baird increased their price objective on shares of GMS from $76.00 to $83.00 in a report on Friday, September 1st. Finally, StockNews.com raised shares of GMS from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.88.

GMS Stock Performance

Shares of NYSE:GMS opened at $62.23 on Friday. The firm has a fifty day simple moving average of $62.21 and a two-hundred day simple moving average of $65.60. GMS Inc. has a 52 week low of $46.50 and a 52 week high of $76.14. The company has a quick ratio of 1.47, a current ratio of 2.37 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $2.53 billion, a P/E ratio of 7.95 and a beta of 1.80.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 31st. The company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.39 by $0.01. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. GMS had a return on equity of 30.62% and a net margin of 6.14%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 earnings per share. On average, analysts expect that GMS Inc. will post 8.05 earnings per share for the current fiscal year.

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.