Federated Hermes Inc. Raises Stock Position in GMS Inc. (NYSE:GMS)

Federated Hermes Inc. boosted its position in shares of GMS Inc. (NYSE:GMS) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,018,642 shares of the company’s stock after purchasing an additional 76,417 shares during the period. Federated Hermes Inc. owned approximately 2.51% of GMS worth $83,967,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GMS. Raymond James & Associates raised its stake in GMS by 1.4% during the first quarter. Raymond James & Associates now owns 29,964 shares of the company’s stock worth $1,491,000 after purchasing an additional 404 shares during the period. HighTower Advisors LLC acquired a new stake in shares of GMS during the first quarter valued at about $1,434,000. PNC Financial Services Group Inc. increased its position in shares of GMS by 66.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,781 shares of the company’s stock valued at $238,000 after acquiring an additional 1,902 shares during the last quarter. Bank of Montreal Can increased its position in shares of GMS by 10.7% during the first quarter. Bank of Montreal Can now owns 14,191 shares of the company’s stock valued at $759,000 after acquiring an additional 1,373 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of GMS by 57.5% during the first quarter. MetLife Investment Management LLC now owns 23,173 shares of the company’s stock valued at $1,153,000 after acquiring an additional 8,460 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stephens lifted their price target on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Robert W. Baird lifted their price target on shares of GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. StockNews.com cut shares of GMS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Truist Financial lifted their price target on shares of GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price objective on shares of GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.63.

GMS Trading Down 1.2 %

NYSE GMS opened at $90.02 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. GMS Inc. has a 52 week low of $54.59 and a 52 week high of $101.04. The stock has a market capitalization of $3.58 billion, a PE ratio of 12.61 and a beta of 1.73. The firm has a 50 day moving average of $92.84 and a two-hundred day moving average of $79.16.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). GMS had a return on equity of 25.65% and a net margin of 5.48%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm earned $1.85 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that GMS Inc. will post 8.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the completion of the sale, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the completion of the sale, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO George T. Hendren sold 10,554 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the sale, the chief operating officer now owns 23,261 shares of the company’s stock, valued at approximately $2,244,453.89. The disclosure for this sale can be found here. Insiders sold 36,820 shares of company stock worth $3,561,192 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.