Raymond James Financial Inc. Invests $1.55 Million in GMS Inc. (NYSE:GMS)

Raymond James Financial Inc. purchased a new stake in GMS Inc. (NYSE:GMS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 18,231 shares of the company’s stock, valued at approximately $1,547,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in GMS by 374.0% in 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. Smartleaf Asset Management LLC lifted its stake in shares of GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock valued at $84,000 after purchasing an additional 705 shares during the last quarter. Vestcor Inc lifted its stake in shares of GMS by 71.5% in the 3rd quarter. Vestcor Inc now owns 14,330 shares of the company’s stock valued at $1,298,000 after purchasing an additional 5,972 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in GMS by 61.1% in the third quarter. Rockefeller Capital Management L.P. now owns 37,359 shares of the company’s stock worth $3,384,000 after purchasing an additional 14,174 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in GMS by 42.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 110,304 shares of the company’s stock worth $9,357,000 after buying an additional 33,123 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Stock Up 0.7 %

Shares of GMS stock opened at $73.72 on Wednesday. GMS Inc. has a 12 month low of $65.88 and a 12 month high of $105.54. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2.83 billion, a PE ratio of 13.55 and a beta of 1.73. The stock has a 50 day moving average of $78.92 and a 200-day moving average of $87.20.

GMS (NYSE:GMS) last announced its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The company 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 year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Loop Capital reduced their price target on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada reduced their target price on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Truist Financial decreased their target price on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, March 7th. DA Davidson dropped their price target 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. Finally, UBS Group set a $80.00 price objective on shares of GMS in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $80.50.

GMS Company 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.