Raymond James & Associates Lowers Position in GMS Inc. (NYSE:GMS)

Raymond James & Associates decreased its stake in GMS Inc. (NYSE:GMS) by 12.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,864 shares of the company’s stock after selling 2,491 shares during the period. Raymond James & Associates’ holdings in GMS were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in GMS by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,482,066 shares of the company’s stock worth $204,600,000 after buying an additional 14,005 shares during the period. Westwood Holdings Group Inc. bought a new stake in GMS during the 1st quarter valued at approximately $68,693,000. Capital International Investors raised its stake in GMS by 15.0% during the 4th quarter. Capital International Investors now owns 611,792 shares of the company’s stock valued at $50,430,000 after purchasing an additional 79,792 shares during the period. Charles Schwab Investment Management Inc. raised its stake in GMS by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 558,631 shares of the company’s stock valued at $46,048,000 after purchasing an additional 12,637 shares during the period. Finally, Reinhart Partners LLC. raised its stake in GMS by 1.7% during the 2nd quarter. Reinhart Partners LLC. now owns 495,764 shares of the company’s stock valued at $39,964,000 after purchasing an additional 8,215 shares during the period. 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 business’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 transaction, the senior vice president now owns 10,671 shares of the company’s stock, valued at approximately $963,804.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

GMS Stock Performance

NYSE GMS opened at $83.63 on Thursday. The company has a market cap of $3.32 billion, a P/E ratio of 12.43 and a beta of 1.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.40 and a current ratio of 2.31. The business’s 50 day moving average price is $88.20 and its 200-day moving average price is $91.01. GMS Inc. has a fifty-two week low of $56.58 and a fifty-two week high of $101.04.

GMS (NYSE:GMS) last released its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate 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 net margin of 4.45% and a return on equity of 22.02%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. Sell-side analysts predict that GMS Inc. will post 8.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on GMS shares. Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Stephens decreased their target price on GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Barclays decreased their target price on GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Loop Capital decreased their target price on GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Finally, Royal Bank of Canada decreased their target price on GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.75.

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.