Fmr LLC Buys 1,636,612 Shares of GMS Inc. (NYSE:GMS)

FMR LLC lifted its position in GMS Inc. (NYSE:GMS - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,868,782 shares of the company's stock after acquiring an additional 1,636,612 shares during the period. FMR LLC owned about 15.12% of GMS worth $497,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aristides Capital LLC lifted its stake in GMS by 38.9% in the 4th quarter. Aristides Capital LLC now owns 3,327 shares of the company's stock worth $282,000 after acquiring an additional 932 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in GMS in the fourth quarter worth $280,000. Envestnet Asset Management Inc. boosted its stake in shares of GMS by 10.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 25,448 shares of the company's stock worth $2,159,000 after acquiring an additional 2,410 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of GMS in the fourth quarter worth $193,000. Finally, JPMorgan Chase & Co. boosted its holdings in GMS by 29.1% during the fourth quarter. JPMorgan Chase & Co. now owns 274,559 shares of the company's stock valued at $23,291,000 after acquiring an additional 61,842 shares during the period. Institutional investors and hedge funds own 95.28% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on GMS shares. DA Davidson reduced their target price on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Loop Capital decreased their target price on shares of GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. UBS Group set a $80.00 price target on shares of GMS in a research report on Friday, March 7th. Truist Financial dropped their target price on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Finally, Robert W. Baird decreased their price target on GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, GMS presently has a consensus rating of "Hold" and a consensus target price of $80.50.

GMS Trading Down 0.6 %

Shares of NYSE GMS traded down $0.42 during midday trading on Tuesday, hitting $72.34. The stock had a trading volume of 83,308 shares, compared to its average volume of 414,924. The firm has a market cap of $2.78 billion, a P/E ratio of 13.30 and a beta of 1.62. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The company's 50-day simple moving average is $76.08 and its 200 day simple moving average is $85.79.

GMS (NYSE:GMS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. Research analysts anticipate that GMS Inc. will post 7.26 EPS for the current year.

Insider Activity at GMS

In other news, CEO John C. Turner, Jr. acquired 3,650 shares of GMS stock in a transaction dated Monday, April 7th. The stock was bought at an average cost of $70.00 per share, with a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.