140,431 Shares in GMS Inc. (NYSE:GMS) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC purchased a new stake in GMS Inc. (NYSE:GMS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 140,431 shares of the company's stock, valued at approximately $11,913,000. Granite Investment Partners LLC owned approximately 0.36% of GMS as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GMS. Inspire Investing LLC increased its holdings in GMS by 2.9% during the 4th quarter. Inspire Investing LLC now owns 4,716 shares of the company's stock worth $400,000 after purchasing an additional 134 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in GMS by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company's stock valued at $3,182,000 after buying an additional 148 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in GMS by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,936 shares of the company's stock worth $249,000 after acquiring an additional 211 shares during the last quarter. Blue Trust Inc. grew its stake in shares of GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock worth $62,000 after acquiring an additional 285 shares in the last quarter. Finally, Choreo LLC raised its holdings in shares of GMS by 12.1% in the fourth quarter. Choreo LLC now owns 2,668 shares of the company's stock valued at $227,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company's stock.

Insiders Place Their Bets

In other GMS news, CEO John C. Turner, Jr. bought 3,650 shares of the firm's stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. This trade represents a 5.77 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

GMS Stock Performance

GMS traded up $0.61 on Friday, reaching $70.72. The company had a trading volume of 290,170 shares, compared to its average volume of 416,208. The stock has a market cap of $2.71 billion, a P/E ratio of 13.00 and a beta of 1.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $105.54. The company's fifty day moving average is $75.28 and its 200 day moving average is $85.45.

GMS (NYSE:GMS - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. As a group, analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GMS shares. Truist Financial lowered their price target on shares of GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Loop Capital lowered their price target on GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Barclays cut their price objective on GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. DA Davidson cut their price target on shares of GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, Robert W. Baird lowered their price objective on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.