Granite Investment Partners LLC Buys Shares of 140,431 GMS Inc. (NYSE:GMS)

Granite Investment Partners LLC acquired a new position in shares of GMS Inc. (NYSE:GMS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 140,431 shares of the company’s stock, valued at approximately $11,913,000.

Several other large investors have also bought and sold shares of the business. FMR LLC lifted its holdings in shares of GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after acquiring an additional 1,636,612 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in GMS in the fourth quarter valued at approximately $109,277,000. Charles Schwab Investment Management Inc. increased its holdings in shares of GMS by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock worth $51,722,000 after buying an additional 15,664 shares in the last quarter. Reinhart Partners LLC. lifted its stake in shares of GMS by 2.3% in the 4th quarter. Reinhart Partners LLC. now owns 541,519 shares of the company’s stock valued at $45,937,000 after acquiring an additional 12,099 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GMS by 29.1% during the 4th 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 in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

GMS Stock Performance

GMS stock opened at $72.86 on Friday. The firm has a market cap of $2.80 billion, a PE ratio of 13.39 and a beta of 1.62. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $76.30 and a 200-day moving average price of $85.94. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $105.54.

GMS (NYSE:GMS) last issued its quarterly earnings results 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). The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. As a group, equities research analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GMS shares. Royal Bank of Canada cut their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. DA Davidson decreased their price target on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Barclays cut their price target on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Truist Financial decreased their price objective 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 cut their target price on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Insider Activity

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were acquired 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 owns 66,928 shares of the company’s stock, valued at $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

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.