Hancock Whitney Corp Reduces Holdings in GMS Inc. (NYSE:GMS)

Hancock Whitney Corp lowered its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,217 shares of the company's stock after selling 3,538 shares during the quarter. Hancock Whitney Corp's holdings in GMS were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GMS. Stifel Financial Corp bought a new position in shares of GMS during the 3rd quarter valued at approximately $222,000. Barclays PLC increased its position in GMS by 374.0% during the third quarter. Barclays PLC now owns 70,580 shares of the company's stock valued at $6,392,000 after acquiring an additional 55,690 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of GMS by 6.9% in the third quarter. Lord Abbett & CO. LLC now owns 90,374 shares of the company's stock valued at $8,185,000 after acquiring an additional 5,833 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of GMS by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,151 shares of the company's stock worth $3,830,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of GMS by 2.3% during the 4th quarter. Reinhart Partners LLC. now owns 541,519 shares of the company's stock worth $45,937,000 after purchasing an additional 12,099 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Theron I. Gilliam sold 12,474 shares of the business'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 transaction of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares in the company, valued at $2,314,504.22. The trade was a 28.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the purchase, the chief executive officer now owns 66,928 shares of the company's stock, valued at $4,684,960. This 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 owned by company insiders.

GMS Stock Up 2.4 %

Shares of GMS stock traded up $1.77 on Friday, hitting $75.05. The stock had a trading volume of 193,145 shares, compared to its average volume of 414,764. GMS Inc. has a one year low of $65.77 and a one year high of $105.54. The business has a 50 day moving average price of $73.22 and a 200 day moving average price of $83.92. The company has a market cap of $2.88 billion, a PE ratio of 13.80 and a beta of 1.62. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. Research analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMS has been the subject of several analyst reports. Loop Capital decreased their price objective on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a research note on Monday, March 10th. UBS Group set a $80.00 price target on GMS in a research note on Friday, March 7th. Royal Bank of Canada cut their price objective on GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. DA Davidson decreased their target price on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Truist Financial cut their price target on shares of GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $80.50.

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.