Vanguard Group Inc. Trims Stake in GMS Inc. (NYSE:GMS)

Vanguard Group Inc. cut its position in shares of GMS Inc. (NYSE:GMS) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,110,976 shares of the company’s stock after selling 141,362 shares during the period. Vanguard Group Inc. owned approximately 13.17% of GMS worth $433,564,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of GMS during the 4th quarter worth approximately $355,000. KLP Kapitalforvaltning AS purchased a new stake in GMS in the fourth quarter worth $848,000. AXQ Capital LP bought a new stake in shares of GMS during the fourth quarter worth $228,000. Sei Investments Co. boosted its stake in shares of GMS by 4.7% during the fourth quarter. Sei Investments Co. now owns 231,035 shares of the company’s stock valued at $19,599,000 after purchasing an additional 10,297 shares during the period. Finally, Quantbot Technologies LP purchased a new position in GMS in the 4th quarter worth about $1,105,000. 95.28% of the stock is currently owned by institutional investors.

GMS Stock Performance

Shares of GMS stock opened at $73.72 on Wednesday. The company has a market capitalization of $2.83 billion, a PE ratio of 13.55 and a beta of 1.73. The company has a 50-day simple moving average of $78.92 and a two-hundred day simple moving average of $87.20. GMS Inc. has a one year low of $65.88 and a one year 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.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. Research analysts expect that GMS Inc. will post 7.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.