Federated Hermes Inc. Sells 328,825 Shares of GMS Inc. (NYSE:GMS)

Federated Hermes Inc. trimmed its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 37.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 539,938 shares of the company's stock after selling 328,825 shares during the quarter. Federated Hermes Inc. owned about 1.41% of GMS worth $39,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in GMS during the first quarter worth $371,000. Edgestream Partners L.P. grew its position in shares of GMS by 166.3% in the first quarter. Edgestream Partners L.P. now owns 80,145 shares of the company's stock valued at $5,864,000 after purchasing an additional 50,049 shares during the last quarter. Isthmus Partners LLC grew its position in shares of GMS by 4.5% in the first quarter. Isthmus Partners LLC now owns 35,729 shares of the company's stock valued at $2,614,000 after purchasing an additional 1,535 shares during the last quarter. Bridges Investment Management Inc. grew its position in shares of GMS by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 22,751 shares of the company's stock valued at $1,665,000 after purchasing an additional 11,984 shares during the last quarter. Finally, Regents Gate Capital LLP grew its position in shares of GMS by 1,439.9% in the first quarter. Regents Gate Capital LLP now owns 72,839 shares of the company's stock valued at $5,330,000 after purchasing an additional 68,109 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

GMS Stock Performance

GMS stock traded down $0.01 during trading on Friday, reaching $109.63. 1,460,707 shares of the stock were exchanged, compared to its average volume of 1,557,982. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28. The company has a market capitalization of $4.17 billion, a P/E ratio of 37.93 and a beta of 1.76. The stock has a 50 day simple moving average of $95.96 and a 200-day simple moving average of $83.35. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $1.93 earnings per share. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current year.

Analysts Set New Price Targets

GMS has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 1st. Stephens downgraded GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research report on Friday, June 27th. Raymond James Financial downgraded GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Robert W. Baird reaffirmed a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GMS in a research report on Monday, June 23rd. Finally, Truist Financial raised their price target on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $101.11.

Insider Buying and Selling

In other GMS news, major shareholder Coliseum Capital Management, L sold 54,944 shares of GMS stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the sale, the insider directly owned 3,486,524 shares of the company's stock, valued at approximately $383,691,966.20. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total value of $541,150.00. Following the sale, the chief operating officer directly owned 23,950 shares in the company, valued at $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock worth $37,808,097 over the last ninety days. Company insiders own 1.90% of the company's stock.

GMS 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.