Meeder Asset Management Inc. Makes New Investment in GMS Inc. (NYSE:GMS)

Meeder Asset Management Inc. acquired a new position in GMS Inc. (NYSE:GMS) in the 1st quarter, Holdings Channel reports. The firm acquired 3,032 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of GMS by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,482,066 shares of the company’s stock worth $204,600,000 after acquiring an additional 14,005 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of GMS by 57.5% in the 4th 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 stake in shares of GMS by 8.1% in the 4th quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock worth $83,967,000 after acquiring an additional 76,417 shares in the last quarter. Capital International Investors increased its stake in shares of GMS by 15.0% in the 4th quarter. Capital International Investors now owns 611,792 shares of the company’s stock worth $50,430,000 after acquiring an additional 79,792 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 12,637 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors.

GMS Stock Performance

NYSE GMS traded up $0.05 on Monday, reaching $87.72. 502,009 shares of the stock were exchanged, compared to its average volume of 381,361. The firm has a market capitalization of $3.48 billion, a PE ratio of 13.03 and a beta of 1.63. The company’s 50-day simple moving average is $88.57 and its two-hundred day simple moving average is $89.15. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. GMS Inc. has a one year low of $56.58 and a one year high of $101.04.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, June 20th. The company reported $1.93 EPS 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 the consensus estimate of $1.41 billion. GMS had a net margin of 5.02% and a return on equity of 24.05%. GMS’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.11 earnings per share. Analysts expect that GMS Inc. will post 8.64 EPS for the current fiscal year.

Analysts Set New Price Targets

GMS has been the topic of several recent analyst reports. Barclays cut their price objective on shares of GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Royal Bank of Canada cut their price objective on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Friday, June 21st. DA Davidson cut their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Loop Capital cut their price objective on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Finally, Truist Financial cut their price objective on shares of GMS from $105.00 to $95.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

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.