JPMorgan Chase & Co. Lowers Holdings in GMS Inc. (NYSE:GMS)

JPMorgan Chase & Co. lessened its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 10.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,717 shares of the company's stock after selling 24,126 shares during the period. JPMorgan Chase & Co. owned about 0.55% of GMS worth $19,266,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quarry LP lifted its stake in shares of GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company's stock worth $56,000 after acquiring an additional 361 shares in the last quarter. KBC Group NV boosted its holdings in shares of GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company's stock worth $105,000 after acquiring an additional 281 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of GMS in the second quarter worth $121,000. Finally, Quest Partners LLC purchased a new position in shares of GMS in the second quarter valued at $144,000. Hedge funds and other institutional investors own 95.28% of the company's stock.

Insider Buying and Selling

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

GMS Trading Down 1.1 %

GMS stock traded down $0.90 during trading hours on Friday, reaching $80.21. The company had a trading volume of 329,142 shares, compared to its average volume of 358,674. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. GMS Inc. has a 12-month low of $77.29 and a 12-month high of $105.54. The company has a 50-day moving average price of $93.42 and a 200 day moving average price of $90.33. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 14.74 and a beta of 1.73.

GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. Equities analysts forecast that GMS Inc. will post 7.41 earnings per share for the current year.

Analysts Set New Price Targets

GMS has been the topic of a number of recent research reports. DA Davidson cut their target price on GMS from $97.00 to $94.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Barclays boosted their price objective on shares of GMS from $80.00 to $93.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Robert W. Baird decreased their target price on shares of GMS from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, December 6th. Loop Capital raised their price target on shares of GMS from $85.00 to $93.00 and gave the company a "hold" rating in a report on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $86.00 price target (up previously from $78.00) on shares of GMS in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, GMS currently has a consensus rating of "Hold" and an average target price of $95.43.

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.