T. Rowe Price Investment Management Inc. Sells 219,576 Shares of GMS Inc. (NYSE:GMS)

T. Rowe Price Investment Management Inc. lowered its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 12.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,535,758 shares of the company's stock after selling 219,576 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 3.96% of GMS worth $130,279,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. AlphaQuest LLC raised its holdings in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after purchasing an additional 325 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of GMS during the 4th quarter worth approximately $34,000. Blue Trust Inc. boosted its stake in shares of GMS by 71.3% in the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock worth $62,000 after buying an additional 285 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after acquiring an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of GMS during the fourth quarter valued at approximately $193,000. Institutional investors and hedge funds own 95.28% of the company's stock.

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. acquired 3,650 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now directly owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This trade represents a 28.36 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

GMS Price Performance

Shares of GMS traded down $1.01 during midday trading on Wednesday, reaching $72.51. The stock had a trading volume of 52,641 shares, compared to its average volume of 412,952. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 13.33 and a beta of 1.62. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. GMS Inc. has a 12-month low of $65.77 and a 12-month high of $105.54. The company's 50-day moving average is $73.69 and its 200 day moving average is $84.44.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.29 billion. On average, equities analysts predict that GMS Inc. will post 7.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. 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. Barclays reduced their target price on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. DA Davidson decreased their price objective on GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Robert W. Baird decreased their target price on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Truist Financial dropped their price target on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a research 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 MarketBeat.com, the stock currently 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.