Federated Hermes Inc. Sells 109,000 Shares of GMS Inc. (NYSE:GMS)

Federated Hermes Inc. lowered its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 868,763 shares of the company's stock after selling 109,000 shares during the period. Federated Hermes Inc. owned 2.24% of GMS worth $73,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GMS. Envestnet Asset Management Inc. grew its stake in GMS by 10.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,448 shares of the company's stock valued at $2,159,000 after acquiring an additional 2,410 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of GMS during the 4th quarter valued at about $193,000. JPMorgan Chase & Co. grew its stake in GMS by 29.1% in the 4th quarter. JPMorgan Chase & Co. now owns 274,559 shares of the company's stock worth $23,291,000 after buying an additional 61,842 shares in the last quarter. Fox Run Management L.L.C. bought a new position in GMS in the fourth quarter valued at $355,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of GMS during the 4th quarter valued at about $848,000. 95.28% of the stock is owned by institutional investors.

GMS Trading Up 1.3 %

Shares of GMS traded up $0.95 during mid-day trading on Friday, hitting $72.86. 349,263 shares of the company's stock traded hands, compared to its average volume of 415,964. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2.80 billion, a P/E ratio of 13.39 and a beta of 1.62. The business's 50-day moving average price is $76.30 and its 200-day moving average price is $85.94. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $105.54.

GMS (NYSE:GMS - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share 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 during the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts forecast that GMS Inc. will post 7.26 EPS for the current fiscal year.

Insider Activity at GMS

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John C. Turner, Jr. acquired 3,650 shares of GMS stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the purchase, the chief executive officer now owns 66,928 shares in the company, valued at $4,684,960. This represents a 5.77 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GMS shares. Robert W. Baird cut their price objective on shares of GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reduced their price objective on GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. Truist Financial lowered their target price on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, March 7th. DA Davidson decreased their price target on GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Barclays lowered their price objective on GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, GMS currently has an average rating of "Hold" and a consensus price target of $80.50.

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.