Hsbc Holdings PLC Sells 4,347 Shares of GMS Inc. (NYSE:GMS)

Hsbc Holdings PLC reduced its stake in shares of GMS Inc. (NYSE:GMS) by 34.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,380 shares of the company’s stock after selling 4,347 shares during the quarter. Hsbc Holdings PLC’s holdings in GMS were worth $669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GMS. BNP Paribas Financial Markets boosted its position in GMS by 98.7% in the 1st quarter. BNP Paribas Financial Markets now owns 53,373 shares of the company’s stock valued at $5,195,000 after buying 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 $814,000. Comerica Bank boosted its holdings in GMS by 157.0% in the first quarter. Comerica Bank now owns 48,284 shares of the company’s stock valued at $4,700,000 after acquiring an additional 29,495 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in GMS by 116.5% in the fourth quarter. Allianz Asset Management GmbH now owns 24,732 shares of the company’s stock valued at $2,039,000 after acquiring an additional 13,306 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in GMS by 56.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock worth $5,060,000 after purchasing an additional 18,799 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GMS has been the topic of a number of recent research reports. DA Davidson reduced their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Barclays decreased their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Royal Bank of Canada cut their target price on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a report on Friday, June 21st. Finally, Truist Financial decreased their price target 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $89.63.

GMS Stock Up 1.9 %

GMS stock opened at $90.76 on Monday. GMS Inc. has a twelve month low of $56.58 and a twelve month high of $101.04. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 13.49 and a beta of 1.67. 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 business 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 posted its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm posted $2.40 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that GMS Inc. will post 7.95 EPS for the current fiscal year.

Insider Activity

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the sale, the senior vice president now directly owns 10,671 shares in the company, valued at approximately $963,804.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

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.