Massachusetts Financial Services Co. MA Trims Stake in GMS Inc. (NYSE:GMS)

Massachusetts Financial Services Co. MA reduced its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,944 shares of the company's stock after selling 6,805 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.21% of GMS worth $5,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GMS. FMR LLC boosted its position in shares of GMS by 38.7% in the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after purchasing an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC boosted its position in shares of GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock worth $160,285,000 after purchasing an additional 1,085,551 shares in the last quarter. Reinhart Partners LLC. boosted its position in shares of GMS by 17.5% in the 1st quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock worth $46,553,000 after purchasing an additional 94,716 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of GMS by 3.4% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 596,444 shares of the company's stock worth $50,596,000 after purchasing an additional 19,833 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of GMS by 13.9% in the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company's stock worth $49,212,000 after purchasing an additional 70,927 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

GMS Stock Down 0.1%

GMS stock opened at $109.85 on Friday. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28. The stock's fifty day simple moving average is $89.12 and its 200-day simple moving average is $81.44. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.18 billion, a P/E ratio of 38.01 and a beta of 1.71.

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

Insider Activity

In related news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the transaction, the insider directly owned 3,486,524 shares of the company's stock, valued at $383,691,966.20. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $108.23, for a total transaction of $541,150.00. Following the transaction, the chief operating officer directly owned 23,950 shares of the company's stock, valued at $2,592,108.50. This represents 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 valued at $37,808,097 in the last quarter. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GMS shares. Baird R W lowered GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. DA Davidson boosted their price objective on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Truist Financial boosted their price objective on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Barclays boosted their price objective on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird restated a "neutral" rating and issued a $95.00 price target (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GMS currently has an average rating of "Hold" and a consensus target price of $101.11.

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.

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