JPMorgan Chase & Co. Buys 61,842 Shares of GMS Inc. (NYSE:GMS)

JPMorgan Chase & Co. boosted its stake in GMS Inc. (NYSE:GMS - Free Report) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,559 shares of the company's stock after buying an additional 61,842 shares during the period. JPMorgan Chase & Co. owned 0.71% of GMS worth $23,291,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in GMS during the 4th quarter valued at $355,000. KLP Kapitalforvaltning AS bought a new stake in shares of GMS during the fourth quarter valued at about $848,000. AXQ Capital LP acquired a new stake in GMS in the fourth quarter worth about $228,000. Sei Investments Co. lifted its holdings in GMS by 4.7% in the fourth quarter. Sei Investments Co. now owns 231,035 shares of the company's stock worth $19,599,000 after purchasing an additional 10,297 shares during the period. Finally, Quantbot Technologies LP bought a new position in GMS in the 4th quarter valued at about $1,105,000. 95.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GMS has been the subject of a number of research analyst reports. DA Davidson reduced 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. Robert W. Baird cut their target price on GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Truist Financial lowered their price target on GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. UBS Group set a $80.00 price objective on GMS in a report on Friday, March 7th. Finally, Loop Capital lowered their target price on GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $80.50.

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. purchased 3,650 shares of GMS stock in a transaction on Monday, April 7th. The stock was bought at an average price 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the company's stock in a transaction dated 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 owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This trade represents a 28.36 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

GMS Stock Up 0.2 %

Shares of GMS traded up $0.14 during mid-day trading on Tuesday, reaching $72.90. The company's stock had a trading volume of 30,562 shares, compared to its average volume of 438,255. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 13.39 and a beta of 1.62. The business has a fifty day moving average of $76.08 and a 200 day moving average of $85.79. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. 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 announced its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, analysts forecast that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

GMS Company 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.