Pacer Advisors Inc. Raises Stock Holdings in GMS Inc. (NYSE:GMS)

Pacer Advisors Inc. raised its stake in shares of GMS Inc. (NYSE:GMS) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,474,821 shares of the company’s stock after purchasing an additional 6,396 shares during the quarter. Pacer Advisors Inc. owned 3.72% of GMS worth $118,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in GMS by 248.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,756 shares of the company’s stock worth $2,041,000 after acquiring an additional 17,658 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of GMS during the fourth quarter valued at about $295,000. US Bancorp DE increased its holdings in shares of GMS by 2,157.9% in the fourth quarter. US Bancorp DE now owns 10,883 shares of the company’s stock worth $897,000 after buying an additional 10,401 shares during the period. Hsbc Holdings PLC lifted its stake in shares of GMS by 3.0% in the 4th quarter. Hsbc Holdings PLC now owns 12,691 shares of the company’s stock valued at $1,053,000 after acquiring an additional 368 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of GMS by 34.2% in the 4th quarter. TD Asset Management Inc now owns 40,000 shares of the company’s stock valued at $3,297,000 after acquiring an additional 10,200 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GMS has been the topic of several recent research reports. Robert W. Baird reduced their price target on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 21st. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Stephens lowered their price target on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 1st. DA Davidson cut their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, Truist Financial lowered their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.63.

Insider Buying and Selling

In other news, SVP Craig D. Apolinsky sold 7,900 shares of GMS stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total transaction of $713,528.00. Following the completion of the transaction, the senior vice president now directly owns 10,671 shares in the company, valued at $963,804.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

GMS Trading Down 2.0 %

GMS opened at $90.20 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52 week low of $56.58 and a 52 week high of $101.04. The stock has a market cap of $3.58 billion, a PE ratio of 13.40 and a beta of 1.68. The business has a 50 day moving average of $89.53 and a 200-day moving average of $90.73.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 EPS. Equities research analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

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.