Maryland State Retirement & Pension System Sells 405 Shares of GMS Inc. (NYSE:GMS)

Maryland State Retirement & Pension System trimmed its holdings in GMS Inc. (NYSE:GMS) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,348 shares of the company’s stock after selling 405 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GMS were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of GMS by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,482,066 shares of the company’s stock valued at $204,600,000 after purchasing an additional 14,005 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 acquiring an additional 456,692 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of GMS by 8.1% during the fourth quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock valued at $83,967,000 after acquiring an additional 76,417 shares in the last quarter. Capital International Investors increased its holdings in shares of GMS by 15.0% during the fourth quarter. Capital International Investors now owns 611,792 shares of the company’s stock valued at $50,430,000 after acquiring an additional 79,792 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of GMS by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 558,631 shares of the company’s stock worth $46,048,000 after purchasing an additional 12,637 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com cut shares of GMS from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird lowered their price objective on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 21st. Loop Capital reduced their target price on GMS from $100.00 to $85.00 and set a “hold” rating for the company in a report on Friday, June 21st. Barclays lowered their price target on GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Finally, Truist Financial reduced their price objective on GMS from $105.00 to $95.00 and set a “hold” rating for the company in a report on Friday, June 21st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.38.

GMS Stock Performance

Shares of GMS traded down $2.13 during trading hours on Friday, hitting $78.22. The stock had a trading volume of 23,857 shares, compared to its average volume of 377,086. GMS Inc. has a 12 month low of $56.58 and a 12 month high of $101.04. The stock has a fifty day moving average price of $90.18 and a 200 day moving average price of $89.04. 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 capitalization of $3.10 billion, a PE ratio of 11.94 and a beta of 1.63.

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

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.