GMS Inc. (NYSE:GMS) Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of GMS Inc. (NYSE:GMS) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,717 shares of the company’s stock after selling 24,126 shares during the quarter. JPMorgan Chase & Co.’s holdings in GMS were worth $19,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP lifted its stake in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after purchasing an additional 361 shares in the last quarter. KBC Group NV boosted its holdings in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after purchasing an additional 281 shares during the period. Canada Pension Plan Investment Board purchased a new position in GMS during the second quarter valued at approximately $121,000. Finally, Quest Partners LLC purchased a new position in GMS during the second quarter valued at approximately $144,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GMS. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 target price (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. DA Davidson dropped their target price on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Truist Financial raised their price target on GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Barclays increased their price objective on GMS from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Loop Capital lifted their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, GMS currently has an average rating of “Hold” and an average price target of $95.43.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

GMS Stock Up 0.4 %

Shares of GMS stock opened at $81.26 on Friday. The stock’s 50 day simple moving average is $93.60 and its 200 day simple moving average is $90.39. GMS Inc. has a twelve month low of $77.29 and a twelve month high of $105.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 14.94 and a beta of 1.73.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. GMS’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that GMS Inc. will post 7.41 EPS for the current year.

GMS Company 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.