Royce & Associates LP Cuts Stock Position in GMS Inc. (NYSE:GMS)

Royce & Associates LP decreased its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 44.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,769 shares of the company's stock after selling 3,057 shares during the quarter. Royce & Associates LP's holdings in GMS were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GMS. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of GMS in the first quarter worth about $371,000. Edgestream Partners L.P. boosted 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 acquiring an additional 50,049 shares during the period. Isthmus Partners LLC lifted its stake in GMS by 4.5% in the 1st quarter. Isthmus Partners LLC now owns 35,729 shares of the company's stock worth $2,614,000 after purchasing an additional 1,535 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in GMS by 111.3% in the 1st 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 period. Finally, Regents Gate Capital LLP grew its position in shares of GMS by 1,439.9% during the 1st 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 in the last quarter. Institutional investors own 95.28% of the company's stock.

GMS Trading Up 0.1%

Shares of NYSE GMS traded up $0.13 during trading hours on Wednesday, hitting $109.73. The company's stock had a trading volume of 1,130,971 shares, compared to its average volume of 1,856,816. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $110.28. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 37.97 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. The business has a 50-day simple moving average of $93.79 and a 200-day simple moving average of $82.77.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays boosted their price objective on GMS from $95.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research report on Friday, June 27th. Loop Capital increased their price objective on GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Truist Financial increased their target price on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Finally, DA Davidson raised their price objective on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, GMS presently has an average rating of "Hold" and a consensus price target of $101.11.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.05, for a total value of $19,713,586.65. Following the completion of the transaction, the insider owned 3,646,018 shares of the company's stock, valued at approximately $401,244,280.90. This represents a 4.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO George T. Hendren sold 5,000 shares of the firm's 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 completion of the transaction, the chief operating officer owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock worth $37,808,097 in the last quarter. 1.90% of the stock is owned by corporate insiders.

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.