Pitcairn Co. Trims Stock Position in GMS Inc. (NYSE:GMS)

Pitcairn Co. lowered its position in GMS Inc. (NYSE:GMS) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,870 shares of the company’s stock after selling 935 shares during the quarter. Pitcairn Co.’s holdings in GMS were worth $532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. lifted its stake in GMS by 61.8% in the third quarter. Citigroup Inc. now owns 49,733 shares of the company’s stock worth $4,504,000 after acquiring an additional 18,998 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of GMS by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 594,051 shares of the company’s stock worth $53,803,000 after purchasing an additional 2,674 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of GMS by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 105,882 shares of the company’s stock valued at $9,590,000 after purchasing an additional 1,534 shares in the last quarter. Foundry Partners LLC increased its holdings in GMS by 6.2% during the third quarter. Foundry Partners LLC now owns 3,964 shares of the company’s stock valued at $359,000 after buying an additional 232 shares during the period. Finally, Intech Investment Management LLC raised its stake in GMS by 148.8% in the third quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock worth $1,495,000 after buying an additional 9,876 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Loop Capital increased their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday. Truist Financial cut their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Robert W. Baird raised their price target on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Finally, StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.50.

GMS Trading Up 2.1 %

Shares of GMS stock opened at $103.82 on Tuesday. GMS Inc. has a 12-month low of $65.46 and a 12-month high of $105.54. The firm’s 50 day simple moving average is $93.61 and its two-hundred day simple moving average is $90.55. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 17.13 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $2.40 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that GMS Inc. will post 7.95 EPS for the current year.

Insiders Place Their Bets

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

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.