JPMorgan Chase & Co. Buys 61,842 Shares of GMS Inc. (NYSE:GMS)

JPMorgan Chase & Co. grew its stake in shares of GMS Inc. (NYSE:GMS) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,559 shares of the company’s stock after buying an additional 61,842 shares during the period. JPMorgan Chase & Co.’s holdings in GMS were worth $23,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMS. Inspire Investing LLC grew its stake in GMS by 2.9% in the 4th quarter. Inspire Investing LLC now owns 4,716 shares of the company’s stock worth $400,000 after buying an additional 134 shares in the last quarter. PNC Financial Services Group Inc. grew its position in GMS by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,936 shares of the company’s stock worth $249,000 after acquiring an additional 211 shares in the last quarter. Blue Trust Inc. grew its position in GMS by 71.3% in the fourth quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after acquiring an additional 285 shares in the last quarter. Choreo LLC raised its position in GMS by 12.1% during the fourth quarter. Choreo LLC now owns 2,668 shares of the company’s stock valued at $227,000 after purchasing an additional 288 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GMS news, CEO John C. Turner, Jr. bought 3,650 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. The trade was 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GMS. UBS Group set a $80.00 price objective on GMS in a report on Friday, March 7th. Loop Capital lowered their price objective on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Truist Financial cut their target price on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, March 7th. DA Davidson lowered their price target on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Robert W. Baird cut their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.50.

GMS Stock Performance

NYSE:GMS opened at $73.77 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $105.54. The stock has a market cap of $2.83 billion, a P/E ratio of 13.56 and a beta of 1.62. The firm’s fifty day simple moving average is $76.73 and its 200 day simple moving average is $86.17.

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

GMS 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.