BNP Paribas Financial Markets Sells 14,710 Shares of GMS Inc. (NYSE:GMS)

BNP Paribas Financial Markets trimmed its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 72.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,728 shares of the company's stock after selling 14,710 shares during the quarter. BNP Paribas Financial Markets' holdings in GMS were worth $486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock valued at $497,849,000 after purchasing an additional 1,636,612 shares during the period. Pacer Advisors Inc. bought a new position in shares of GMS during the 4th quarter worth approximately $109,277,000. Granite Investment Partners LLC bought a new position in shares of GMS during the 4th quarter worth approximately $11,913,000. Northern Trust Corp grew its position in shares of GMS by 13.9% during the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company's stock worth $49,212,000 after buying an additional 70,927 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of GMS by 29.1% in 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Loop Capital dropped their price objective 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. Barclays decreased 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 decreased their price target on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Truist Financial dropped their price objective on GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Finally, UBS Group set a $80.00 target price on shares of GMS in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $80.50.

Insider Buying and Selling

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction 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 transaction, the director now directly owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the purchase, the chief executive officer now owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This trade 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 insiders.

GMS Stock Performance

NYSE:GMS traded up $2.88 during trading on Tuesday, reaching $76.50. The company's stock had a trading volume of 360,227 shares, compared to its average volume of 416,732. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $105.54. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 14.06 and a beta of 1.66. The firm has a 50 day moving average of $73.26 and a 200-day moving average of $81.83. 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 issued its quarterly 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 company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.29 billion. Research analysts expect that GMS Inc. will post 7.26 EPS for the current fiscal year.

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.