Raymond James & Associates Buys 5,828 Shares of GMS Inc. (NYSE:GMS)

Raymond James & Associates increased its stake in shares of GMS Inc. (NYSE:GMS) by 16.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 42,091 shares of the company’s stock after purchasing an additional 5,828 shares during the period. Raymond James & Associates owned 0.10% of GMS worth $3,470,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of GMS by 3.0% in the third quarter. Vanguard Group Inc. now owns 5,242,989 shares of the company’s stock worth $209,773,000 after buying an additional 154,926 shares in the last quarter. State Street Corp lifted its stake in GMS by 0.5% in the 1st 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 in the last quarter. Federated Hermes Inc. boosted its holdings in GMS by 4.0% in the 3rd quarter. Federated Hermes Inc. now owns 942,225 shares of the company’s stock valued at $60,274,000 after purchasing an additional 36,527 shares during the period. Geode Capital Management LLC grew its position in shares of GMS by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 777,524 shares of the company’s stock valued at $45,011,000 after purchasing an additional 24,791 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of GMS by 21.9% during the 1st quarter. JPMorgan Chase & Co. now owns 613,047 shares of the company’s stock valued at $35,489,000 after purchasing an additional 110,185 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

GMS Trading Down 1.3 %

GMS stock opened at $95.31 on Friday. GMS Inc. has a one year low of $54.59 and a one year high of $101.04. The company has a market capitalization of $3.79 billion, a PE ratio of 13.35 and a beta of 1.73. The company’s 50 day moving average price is $92.35 and its two-hundred day moving average price is $78.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40.

GMS (NYSE:GMS) last issued its earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). GMS had a return on equity of 25.65% and a net margin of 5.48%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business earned $1.85 EPS. GMS’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that GMS Inc. will post 8.36 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the transaction, the senior vice president now directly owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO George T. Hendren sold 10,554 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the completion of the sale, the chief operating officer now directly owns 23,261 shares in the company, valued at $2,244,453.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total value of $1,931,400.00. Following the transaction, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,820 shares of company stock valued at $3,561,192. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GMS shares. Robert W. Baird lifted their price objective on GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada boosted their price objective on GMS from $84.00 to $92.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Truist Financial upped their price objective on shares of GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Barclays lifted their target price on shares of GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 5th. Finally, StockNews.com lowered shares of GMS from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

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.