Amalgamated Bank Decreases Stake in GMS Inc. (NYSE:GMS)

Amalgamated Bank trimmed its holdings in shares of GMS Inc. (NYSE:GMS) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,693 shares of the company’s stock after selling 487 shares during the quarter. Amalgamated Bank’s holdings in GMS were worth $1,059,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. increased its holdings in GMS by 108.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 44,019 shares of the company’s stock worth $3,987,000 after purchasing an additional 22,887 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of GMS by 1.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock valued at $2,246,000 after buying an additional 428 shares during the last quarter. CacheTech Inc. grew its position in shares of GMS by 8.0% during the third quarter. CacheTech Inc. now owns 30,009 shares of the company’s stock worth $2,718,000 after buying an additional 2,229 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of GMS by 1.7% in the third quarter. GHP Investment Advisors Inc. now owns 44,825 shares of the company’s stock worth $4,060,000 after buying an additional 732 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of GMS by 412.5% in the third quarter. Assenagon Asset Management S.A. now owns 77,181 shares of the company’s stock worth $6,990,000 after buying an additional 62,120 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GMS shares. Robert W. Baird increased their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays reduced their price target 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. Truist Financial lowered their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Finally, StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, GMS currently has an average rating of “Hold” and an average target price of $91.50.

GMS Stock Performance

Shares of NYSE GMS opened at $101.34 on Thursday. 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 firm’s 50-day moving average price is $91.35 and its two-hundred day moving average price is $90.31. GMS Inc. has a 52-week low of $64.28 and a 52-week high of $103.56. The stock has a market capitalization of $3.98 billion, a P/E ratio of 16.72 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $2.40 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that GMS Inc. will post 7.95 earnings per share for the current 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.