Maryland State Retirement & Pension System Sells 265 Shares of GMS Inc. (NYSE:GMS)

Maryland State Retirement & Pension System cut its holdings in shares of GMS Inc. (NYSE:GMS) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,753 shares of the company’s stock after selling 265 shares during the period. Maryland State Retirement & Pension System’s holdings in GMS were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GMS. Blue Trust Inc. raised its stake in shares of GMS by 131.1% in the 4th quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after purchasing an additional 211 shares during the period. GAMMA Investing LLC acquired a new stake in GMS in the 4th quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its stake in GMS by 233.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock valued at $35,000 after acquiring an additional 301 shares in the last quarter. CI Investments Inc. acquired a new position in GMS during the 3rd quarter worth approximately $155,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of GMS by 9.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,602 shares of the company’s stock worth $230,000 after acquiring an additional 316 shares in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial increased their target price on shares of GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Barclays raised their price objective on GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a report on Tuesday, March 5th. Stephens upped their target price on GMS from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Royal Bank of Canada raised their price target on GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Finally, Robert W. Baird increased their price objective on GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

GMS Stock Down 1.5 %

GMS stock opened at $93.07 on Thursday. The business’s 50 day simple moving average is $94.08 and its 200 day simple moving average is $82.46. GMS Inc. has a 1-year low of $56.58 and a 1-year high of $101.04. The firm has a market capitalization of $3.70 billion, a PE ratio of 13.03 and a beta of 1.71. The company has a current ratio of 2.40, a quick ratio of 1.47 and a debt-to-equity ratio of 0.69.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.27 billion. GMS had a net margin of 5.48% and a return on equity of 25.65%. GMS’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. As a group, research analysts anticipate that GMS Inc. will post 8.36 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John C. Turner, Jr. sold 6,266 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the transaction, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at $4,691,060.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO George T. Hendren sold 10,554 shares of GMS stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the sale, the chief operating officer now directly owns 23,261 shares of the company’s stock, valued at approximately $2,244,453.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Turner, Jr. sold 6,266 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the transaction, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The disclosure for this sale can be found here. Insiders sold 36,820 shares of company stock worth $3,561,192 over the last three months. Insiders own 1.90% of the company’s stock.

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.