Granite Investment Partners LLC Purchases Shares of 140,431 GMS Inc. (NYSE:GMS)

Granite Investment Partners LLC acquired a new position in shares of GMS Inc. (NYSE:GMS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 140,431 shares of the company’s stock, valued at approximately $11,913,000. Granite Investment Partners LLC owned about 0.36% of GMS at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GMS. AlphaQuest LLC grew its stake in GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after purchasing an additional 325 shares in the last quarter. Blue Trust Inc. grew its stake in shares of GMS by 71.3% in the fourth quarter. Blue Trust Inc. now owns 685 shares of the company’s stock valued at $62,000 after buying an additional 285 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in GMS by 246.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock worth $84,000 after buying an additional 705 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in GMS during the fourth quarter worth $193,000. Finally, Stifel Financial Corp acquired a new stake in GMS in the third quarter valued at $222,000. Institutional investors own 95.28% of the company’s stock.

GMS Price Performance

Shares of NYSE GMS opened at $72.86 on Friday. The business’s 50 day moving average is $76.30 and its 200-day moving average is $85.94. The firm has a market cap of $2.80 billion, a P/E ratio of 13.39 and a beta of 1.62. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $105.54. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last announced its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. Equities research analysts predict that GMS Inc. will post 7.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John C. Turner, Jr. purchased 3,650 shares of GMS stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 66,928 shares of the company’s stock, valued at $4,684,960. This represents a 5.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares of the company’s stock, valued at $2,314,504.22. This represents a 28.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

GMS has been the topic of several recent analyst reports. Truist Financial lowered their price objective on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. UBS Group set a $80.00 price target on GMS in a research report on Friday, March 7th. Barclays cut their price objective on GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Robert W. Baird decreased their target price on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, DA Davidson cut their price target on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.50.

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.