GMS Inc. (NYSE:GMS) Stock Holdings Trimmed by West Tower Group LLC

West Tower Group LLC lessened its holdings in shares of GMS Inc. (NYSE:GMS) by 4.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,500 shares of the company’s stock after selling 500 shares during the quarter. GMS comprises approximately 2.0% of West Tower Group LLC’s holdings, making the stock its 12th largest position. West Tower Group LLC’s holdings in GMS were worth $951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. lifted its position in GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after purchasing an additional 406,406 shares during the period. Pacer Advisors Inc. grew its holdings in GMS by 0.4% during the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after acquiring an additional 6,396 shares during the period. Federated Hermes Inc. raised its position in GMS by 0.9% in the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock worth $85,128,000 after acquiring an additional 9,516 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in GMS by 4.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after acquiring an additional 34,205 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

GMS Stock Performance

Shares of GMS stock opened at $103.82 on Tuesday. GMS Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $105.54. The stock’s 50-day moving average is $93.61 and its two-hundred day moving average is $90.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The firm has a market cap of $4.08 billion, a P/E ratio of 17.13 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $2.40 EPS. GMS’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GMS. Robert W. Baird lifted their price target on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Loop Capital upped their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday. Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Finally, StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.50.

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.