Bank of New York Mellon Corp Sells 16,054 Shares of GMS Inc. (NYSE:GMS)

Bank of New York Mellon Corp decreased its position in shares of GMS Inc. (NYSE:GMS) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,177 shares of the company’s stock after selling 16,054 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of GMS worth $23,513,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in GMS by 71.3% during 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 period. KBC Group NV increased its position in shares of GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after purchasing an additional 281 shares during the period. Stifel Financial Corp bought a new position in shares of GMS in the third quarter worth $222,000. Choreo LLC increased its position in shares of GMS by 12.1% in the fourth quarter. Choreo LLC now owns 2,668 shares of the company’s stock worth $227,000 after purchasing an additional 288 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of GMS in the third quarter worth $232,000. Institutional investors own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

GMS has been the topic of a number of recent analyst reports. Barclays decreased their price target on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Loop Capital raised their price target on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Truist Financial decreased their price target on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday. Royal Bank of Canada decreased their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, DA Davidson decreased their price target on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.71.

GMS Stock Performance

NYSE:GMS opened at $74.17 on Monday. The stock’s 50-day simple moving average is $82.32 and its 200 day simple moving average is $88.85. The firm has a market capitalization of $2.88 billion, a PE ratio of 13.63 and a beta of 1.73. 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 Inc. has a twelve month low of $65.88 and a twelve month high of $105.54.

GMS (NYSE:GMS) last announced 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 firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, analysts anticipate that GMS Inc. will post 7.26 EPS for the current fiscal 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.