Bank of America Corp DE Lowers Holdings in GMS Inc. (NYSE:GMS)

Bank of America Corp DE lowered its stake in GMS Inc. (NYSE:GMS - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,815 shares of the company's stock after selling 62,194 shares during the quarter. Bank of America Corp DE owned about 0.09% of GMS worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of GMS by 374.0% in the 3rd quarter. Barclays PLC now owns 70,580 shares of the company's stock valued at $6,392,000 after acquiring an additional 55,690 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in GMS by 4.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,943 shares of the company's stock valued at $2,201,000 after purchasing an additional 1,146 shares during the last quarter. Blue Trust Inc. lifted its stake in GMS by 71.3% in the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock valued at $62,000 after purchasing an additional 285 shares during the last quarter. Choreo LLC lifted its stake in GMS by 12.1% in the 4th 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. Finally, Meritage Portfolio Management lifted its stake in GMS by 7.2% in the 4th quarter. Meritage Portfolio Management now owns 5,091 shares of the company's stock valued at $432,000 after purchasing an additional 344 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GMS

In other GMS news, CEO John C. Turner, Jr. acquired 3,650 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $70.00 per share, with a total value of $255,500.00. Following the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 in the company, valued at $2,314,504.22. This represents 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 Up 4.2%

Shares of NYSE GMS traded up $3.12 during trading on Tuesday, hitting $76.87. 89,515 shares of the company traded hands, compared to its average volume of 416,557. The business's fifty day moving average is $73.39 and its 200 day moving average is $80.93. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $105.54. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 14.13 and a beta of 1.66. 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 (NYSE:GMS - Get Free Report) last posted 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). 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 analyst estimates of $1.29 billion. Equities research analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GMS has been the topic of a number of research analyst reports. Royal Bank of Canada dropped 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. Barclays dropped their price target on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Robert W. Baird decreased their target price 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. Loop Capital decreased their target price on shares of GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. Finally, DA Davidson decreased their target price on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $80.50.

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.