State Street Corp Has $138.52 Million Stock Position in GMS Inc. (NYSE:GMS)

State Street Corp reduced its position in GMS Inc. (NYSE:GMS) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,529,472 shares of the company’s stock after selling 4,244 shares during the period. State Street Corp’s holdings in GMS were worth $138,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in GMS by 27.8% in the second quarter. SG Americas Securities LLC now owns 5,154 shares of the company’s stock worth $415,000 after buying an additional 1,120 shares during the last quarter. Blue Trust Inc. increased its stake in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Summit Global Investments raised its holdings in shares of GMS by 2.0% during the 2nd quarter. Summit Global Investments now owns 14,712 shares of the company’s stock valued at $1,186,000 after purchasing an additional 288 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of GMS by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after purchasing an additional 162 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in GMS by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $1,612,000 after purchasing an additional 300 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GMS. Truist Financial boosted their price target on GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. DA Davidson dropped their price target on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 price objective (up from $78.00) on shares of GMS in a research note on Friday, December 6th. Finally, Robert W. Baird lowered their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.43.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

GMS Price Performance

NYSE:GMS opened at $91.00 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The stock has a market cap of $3.53 billion, a P/E ratio of 16.73 and a beta of 1.68. The company has a fifty day moving average price of $96.08 and a 200 day moving average price of $90.98. GMS Inc. has a one year low of $75.31 and a one year high of $105.54.

GMS (NYSE:GMS) last released its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted $2.30 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts anticipate that GMS Inc. will post 7.41 earnings per share for the current year.

About GMS

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.