GMS Inc. (NYSE:GMS) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of GMS Inc. (NYSE:GMS) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,018,642 shares of the company’s stock after buying an additional 76,417 shares during the quarter. Federated Hermes Inc.’s holdings in GMS were worth $83,967,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of GMS by 3.0% during the third quarter. Vanguard Group Inc. now owns 5,242,989 shares of the company’s stock worth $209,773,000 after buying an additional 154,926 shares in the last quarter. State Street Corp grew its position in shares of GMS by 0.5% during the first quarter. State Street Corp now owns 1,596,626 shares of the company’s stock worth $92,429,000 after buying an additional 7,235 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in GMS by 57.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,250,370 shares of the company’s stock worth $103,068,000 after purchasing an additional 456,692 shares during the period. Geode Capital Management LLC boosted its holdings in GMS by 3.3% in the first quarter. Geode Capital Management LLC now owns 777,524 shares of the company’s stock worth $45,011,000 after purchasing an additional 24,791 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in GMS by 21.9% in the first quarter. JPMorgan Chase & Co. now owns 613,047 shares of the company’s stock worth $35,489,000 after purchasing an additional 110,185 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GMS shares. Stephens lifted their price objective on shares of GMS from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Robert W. Baird raised their target price on GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Truist Financial raised their target price on GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, March 1st. StockNews.com cut GMS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Barclays raised their target price on GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, GMS currently has an average rating of “Moderate Buy” and an average price target of $89.63.

GMS Price Performance

NYSE:GMS opened at $90.02 on Friday. The business’s 50-day moving average price is $92.84 and its 200 day moving average price is $79.16. The firm has a market cap of $3.58 billion, a P/E ratio of 12.61 and a beta of 1.73. GMS Inc. has a 52-week low of $54.59 and a 52-week high of $101.04. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69.

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

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. sold 6,266 shares of GMS stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total value of $611,436.28. Following the transaction, the chief executive officer now owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John C. Turner, Jr. sold 6,266 shares of GMS stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total value of $611,436.28. Following the transaction, the chief executive officer now owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Craig D. Apolinsky sold 20,000 shares of GMS stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the completion of the transaction, the senior vice president now directly owns 10,360 shares in the company, valued at approximately $1,000,465.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,820 shares of company stock valued at $3,561,192. 1.90% of the stock is owned by corporate insiders.

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.