Sanctuary Advisors LLC Takes $1.69 Million Position in GMS Inc. (NYSE:GMS)

Sanctuary Advisors LLC purchased a new position in GMS Inc. (NYSE:GMS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,991 shares of the company’s stock, valued at approximately $1,692,000. Sanctuary Advisors LLC owned about 0.05% of GMS as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GMS. Quarry LP raised its stake in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 109 shares during the period. QRG Capital Management Inc. raised its position in GMS by 2.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after purchasing an additional 160 shares during the period. Pitcairn Co. lifted its stake in GMS by 2.5% in the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after purchasing an additional 160 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after buying an additional 162 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after buying an additional 171 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stephens dropped their price objective on GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Robert W. Baird cut their price target on shares of GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 21st. Barclays decreased their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Truist Financial dropped their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, GMS presently has an average rating of “Hold” and a consensus price target of $89.63.

GMS Price Performance

NYSE GMS opened at $91.60 on Wednesday. The company has a market cap of $3.63 billion, a PE ratio of 13.61 and a beta of 1.68. The firm’s 50 day moving average price is $89.09 and its 200-day moving average price is $90.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. GMS Inc. has a 52-week low of $56.58 and a 52-week high of $101.04.

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

Insider Activity at GMS

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 10,671 shares in the company, valued at approximately $963,804.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

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.