T. Rowe Price Investment Management Inc. Lowers Position in GMS Inc. $GMS

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in GMS Inc. by 13.2%, owning approximately 3.47% of the company worth $97.55 million as of the latest quarter.
• GMS Inc. reported $1.29 earnings per share for the recent quarter, surpassing analysts' expectations of $1.11.
• Major shareholder Coliseum Capital Management sold 179,133 shares of GMS stock, representing a 4.68% decrease in their ownership.

T. Rowe Price Investment Management Inc. lowered its position in GMS Inc. (NYSE:GMS - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,333,127 shares of the company's stock after selling 202,631 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.47% of GMS worth $97,545,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eukles Asset Management bought a new position in shares of GMS in the first quarter worth $33,000. Canada Pension Plan Investment Board bought a new position in shares of GMS in the fourth quarter worth $34,000. Brooklyn Investment Group bought a new position in GMS in the first quarter valued at $47,000. Versant Capital Management Inc increased its stake in GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after acquiring an additional 445 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 95.28% of the company's stock.

GMS Trading Down 0.1%

Shares of GMS stock traded down $0.07 during trading on Monday, reaching $109.83. 754,927 shares of the stock were exchanged, compared to its average volume of 788,166. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The stock's fifty day moving average is $105.80 and its 200 day moving average is $85.99. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 38.00 and a beta of 1.76. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $110.28.

GMS (NYSE:GMS - Get Free Report) last posted 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. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. GMS's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. As a group, equities research analysts expect that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Insider Transactions at GMS

In other GMS news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total value of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares in the company, valued at $383,691,966.20. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO George T. Hendren sold 5,000 shares of the firm's 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 completion of the sale, the chief operating officer owned 23,950 shares of the company's stock, valued at $2,592,108.50. This trade represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada increased their target price on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 1st. Truist Financial increased their target price on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird reissued a "neutral" rating and issued a $95.00 target price (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Finally, Loop Capital increased their target price on GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.