Pacer Advisors Inc. Purchases 6,396 Shares of GMS Inc. (NYSE:GMS)

Pacer Advisors Inc. lifted its position in shares of GMS Inc. (NYSE:GMS) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,474,821 shares of the company’s stock after acquiring an additional 6,396 shares during the period. Pacer Advisors Inc.’s holdings in GMS were worth $118,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of GMS by 98.7% in the first quarter. BNP Paribas Financial Markets now owns 53,373 shares of the company’s stock worth $5,195,000 after purchasing an additional 26,518 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in GMS in the 1st quarter worth about $814,000. Comerica Bank lifted its stake in GMS by 157.0% during the 1st 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 period. Allianz Asset Management GmbH boosted its holdings in shares of GMS by 116.5% during the 4th 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 grew its stake in shares of GMS by 56.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock worth $5,060,000 after acquiring an additional 18,799 shares during the period. 95.28% of the stock is owned by institutional investors.

GMS Stock Performance

NYSE:GMS opened at $90.20 on Friday. The stock has a 50-day moving average price of $89.53 and a 200 day moving average price of $90.73. The stock has a market capitalization of $3.58 billion, a P/E ratio of 13.40 and a beta of 1.68. GMS Inc. has a 12-month low of $56.58 and a 12-month high of $101.04. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $2.40 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that GMS Inc. will post 7.95 EPS for the current fiscal year.

Insider Activity at GMS

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

Wall Street Analyst Weigh In

GMS has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Stephens cut their price objective on GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Robert W. Baird lowered their target price on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 21st. DA Davidson cut their price target on GMS from $105.00 to $97.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reduced their target price on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a report 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, GMS has an average rating of “Hold” and a consensus target price of $89.63.

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.