Hsbc Holdings PLC Decreases Stock Holdings in GMS Inc. (NYSE:GMS)

Hsbc Holdings PLC lowered its stake in shares of GMS Inc. (NYSE:GMS) by 34.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,380 shares of the company’s stock after selling 4,347 shares during the period. Hsbc Holdings PLC’s holdings in GMS were worth $669,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GMS. BNP Paribas Financial Markets boosted its stake in GMS by 98.7% during the 1st quarter. BNP Paribas Financial Markets now owns 53,373 shares of the company’s stock valued at $5,195,000 after acquiring an additional 26,518 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of GMS during the first quarter valued at approximately $814,000. Comerica Bank increased its position in shares of GMS by 157.0% during the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock valued at $4,700,000 after purchasing an additional 29,495 shares during the period. Allianz Asset Management GmbH raised its stake in shares of GMS by 116.5% in the 4th quarter. Allianz Asset Management GmbH now owns 24,732 shares of the company’s stock worth $2,039,000 after buying an additional 13,306 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in GMS by 56.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock valued at $5,060,000 after buying an additional 18,799 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Insider Activity

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total transaction 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 $963,804.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

GMS Price Performance

NYSE GMS opened at $90.76 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $3.60 billion, a PE 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. The company has a 50 day moving average price of $89.47 and a two-hundred day moving average price of $90.71.

GMS (NYSE:GMS) last announced its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 EPS. As a group, equities analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Robert W. Baird cut their price target on shares of GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 21st. Royal Bank of Canada cut their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a report on Friday, June 21st. Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Loop Capital lowered their price target on GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Finally, Barclays lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” 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.