Comerica Bank Sells 12,360 Shares of GMS Inc. (NYSE:GMS)

Comerica Bank reduced its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 45.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,888 shares of the company's stock after selling 12,360 shares during the quarter. Comerica Bank's holdings in GMS were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GMS. Barclays PLC grew its holdings in shares of GMS by 374.0% during the 3rd quarter. Barclays PLC now owns 70,580 shares of the company's stock worth $6,392,000 after purchasing an additional 55,690 shares during the period. Smartleaf Asset Management LLC increased its position in shares of GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after purchasing an additional 705 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in GMS by 42.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 110,304 shares of the company's stock valued at $9,357,000 after buying an additional 33,123 shares in the last quarter. AlphaQuest LLC boosted its holdings in GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after purchasing an additional 325 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in GMS by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company's stock worth $51,722,000 after acquiring an additional 15,664 shares during the period. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GMS. Robert W. Baird dropped their target price on GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. DA Davidson lowered their price objective on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. UBS Group set a $80.00 price target on shares of GMS in a report on Friday, March 7th. Barclays cut their price objective on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Finally, Royal Bank of Canada reduced their price target on GMS from $82.00 to $65.00 and set a "sector perform" rating for the company in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $80.50.

Insider Buying and Selling

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the transaction, the chief executive officer now owns 66,928 shares in the company, valued at $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 Trading Up 0.2%

NYSE:GMS traded up $0.14 on Thursday, reaching $75.73. The company's stock had a trading volume of 222,467 shares, compared to its average volume of 406,734. 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 Inc. has a 1-year low of $65.77 and a 1-year high of $105.54. The business's 50-day moving average price is $72.80 and its two-hundred day moving average price is $83.04. The firm has a market cap of $2.91 billion, a PE ratio of 13.92 and a beta of 1.66.

GMS (NYSE:GMS - Get Free Report) last released its 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). The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. Equities research analysts anticipate that GMS Inc. will post 7.26 earnings per share 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.