GMS Inc. (NYSE:GMS) Stake Trimmed by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of GMS Inc. (NYSE:GMSFree Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,846 shares of the company’s stock after selling 369 shares during the period. Jennison Associates LLC’s holdings in GMS were worth $1,640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in GMS by 57.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,250,370 shares of the company’s stock valued at $103,068,000 after buying an additional 456,692 shares during the period. Capital International Investors boosted its holdings in shares of GMS by 15.0% during the 4th quarter. Capital International Investors now owns 611,792 shares of the company’s stock worth $50,430,000 after buying an additional 79,792 shares during the period. Federated Hermes Inc. grew its position in shares of GMS by 8.1% in the fourth quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock valued at $83,967,000 after purchasing an additional 76,417 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of GMS by 12.1% in the fourth quarter. Reinhart Partners LLC. now owns 478,108 shares of the company’s stock worth $39,410,000 after acquiring an additional 51,745 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of GMS by 14.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 393,775 shares of the company’s stock worth $25,190,000 after purchasing an additional 49,796 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Trading Down 1.4 %

NYSE GMS opened at $78.69 on Wednesday. The stock’s 50-day moving average is $89.35 and its 200-day moving average is $89.09. GMS Inc. has a one year low of $56.58 and a one year high of $101.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.17 and a quick ratio of 1.40. The firm has a market cap of $3.12 billion, a P/E ratio of 11.69 and a beta of 1.63.

GMS (NYSE:GMSGet Free Report) last released its quarterly earnings results on Thursday, June 20th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.11). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. GMS had a return on equity of 24.05% and a net margin of 5.02%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.11 EPS. Sell-side analysts anticipate that GMS Inc. will post 8.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GMS. Truist Financial dropped their price objective on shares of GMS from $105.00 to $95.00 and set a “hold” rating for the company in a research note on Friday, June 21st. DA Davidson reduced their price objective on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Loop Capital lowered their target price on GMS from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Barclays cut their price target on GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Finally, Stephens lowered their price objective on GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.38.

View Our Latest Stock Analysis on GMS

GMS Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for GMS (NYSE:GMS)

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