Marotta Asset Management Lowers Position in GMS Inc. (NYSE:GMS)

Marotta Asset Management decreased its stake in shares of GMS Inc. (NYSE:GMS) by 36.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,245 shares of the company’s stock after selling 2,975 shares during the period. Marotta Asset Management’s holdings in GMS were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GMS. American Century Companies Inc. increased its position in shares of GMS by 28.5% during the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after acquiring an additional 406,406 shares during the last quarter. Pacer Advisors Inc. boosted its stake in GMS by 0.4% in the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after acquiring an additional 6,396 shares during the last quarter. Federated Hermes Inc. grew its position in shares of GMS by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after acquiring an additional 9,516 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of GMS by 4.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after purchasing an additional 34,205 shares during the last quarter. Finally, LSV Asset Management lifted its stake in GMS by 103.0% in the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

Insiders Place Their Bets

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the sale, the senior vice president now directly owns 10,671 shares in the company, valued at $963,804.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

GMS has been the subject of a number of recent research reports. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Truist Financial reduced 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. Loop Capital lowered their target price on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Robert W. Baird decreased their target price on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 21st. Finally, DA Davidson dropped their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.63.

GMS Price Performance

Shares of NYSE:GMS opened at $89.95 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The firm’s 50 day simple moving average is $89.29 and its two-hundred day simple moving average is $90.66. The company has a market capitalization of $3.57 billion, a P/E ratio of 13.37 and a beta of 1.67. GMS Inc. has a 1-year low of $56.58 and a 1-year high of $101.04.

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

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.