GMS Inc. (NYSE:GMS) Stake Cut by Comerica Bank

Comerica Bank trimmed its stake in GMS Inc. (NYSE:GMS) by 45.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,888 shares of the company’s stock after selling 12,360 shares during the quarter. Comerica Bank’s holdings in GMS were worth $1,263,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after buying an additional 1,636,612 shares during the last quarter. Pacer Advisors Inc. bought a new stake in GMS in the fourth quarter valued at $109,277,000. Charles Schwab Investment Management Inc. lifted its stake in GMS by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock valued at $51,722,000 after buying an additional 15,664 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in GMS by 3.4% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 596,444 shares of the company’s stock valued at $50,596,000 after buying an additional 19,833 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in GMS by 13.9% in the fourth quarter. Northern Trust Corp now owns 580,130 shares of the company’s stock valued at $49,212,000 after buying an additional 70,927 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GMS shares. Barclays cut their target price on GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Robert W. Baird lowered their price target on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Royal Bank of Canada lowered their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Loop Capital lowered their price target on GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Finally, Truist Financial lowered their price target on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, GMS currently has an average rating of “Hold” and an average target price of $80.50.

Insider Buying and Selling

In related news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the transaction, the director now directly owns 31,507 shares of the company’s stock, valued at $2,314,504.22. The trade was a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares of the company’s stock, valued at $4,684,960. This trade represents a 5.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

GMS Price Performance

NYSE:GMS opened at $75.14 on Monday. The business’s 50-day moving average price is $72.72 and its 200 day moving average price is $83.22. The firm has a market cap of $2.88 billion, a P/E ratio of 13.81 and a beta of 1.66. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $105.54. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last released its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. As a group, sell-side analysts predict that GMS Inc. will post 7.26 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.