Maryland State Retirement & Pension System Decreases Stock Holdings in GMS Inc. (NYSE:GMS)

Maryland State Retirement & Pension System cut its stake in GMS Inc. (NYSE:GMS) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,348 shares of the company’s stock after selling 405 shares during the period. Maryland State Retirement & Pension System’s holdings in GMS were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in GMS by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,482,066 shares of the company’s stock worth $204,600,000 after buying an additional 14,005 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of GMS by 57.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,250,370 shares of the company’s stock worth $103,068,000 after acquiring an additional 456,692 shares during the period. Federated Hermes Inc. boosted its position in shares of GMS by 8.1% during the 4th quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock valued at $83,967,000 after acquiring an additional 76,417 shares during the last quarter. Capital International Investors grew its holdings in shares of GMS by 15.0% in the fourth quarter. Capital International Investors now owns 611,792 shares of the company’s stock valued at $50,430,000 after purchasing an additional 79,792 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of GMS by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 558,631 shares of the company’s stock valued at $46,048,000 after purchasing an additional 12,637 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

GMS has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a report on Friday, June 21st. DA Davidson decreased their price objective on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Truist Financial lowered their price objective on GMS from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, June 21st. StockNews.com downgraded GMS from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 26th. Finally, Robert W. Baird lowered their price target on GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 21st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.38.

GMS Trading Down 2.7 %

NYSE:GMS traded down $2.13 during trading hours on Friday, reaching $78.22. 23,857 shares of the stock were exchanged, compared to its average volume of 377,086. GMS Inc. has a twelve month low of $56.58 and a twelve month high of $101.04. The business has a 50-day moving average of $90.18 and a two-hundred day moving average of $89.04. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 11.94 and a beta of 1.63. The company has a quick ratio of 1.40, a current ratio of 2.17 and a debt-to-equity ratio of 0.84.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, June 20th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a net margin of 5.02% and a return on equity of 24.05%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm posted $2.11 EPS. GMS’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that GMS Inc. will post 8.64 EPS for the current year.

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.