T. Rowe Price Investment Management Inc. Sells 219,576 Shares of GMS Inc. (NYSE:GMS)

T. Rowe Price Investment Management Inc. cut its holdings in shares of GMS Inc. (NYSE:GMS) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,758 shares of the company’s stock after selling 219,576 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 3.96% of GMS worth $130,279,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after acquiring an additional 1,636,612 shares during the last quarter. Pacer Advisors Inc. bought a new position in GMS during the fourth quarter valued at approximately $109,277,000. Granite Investment Partners LLC purchased a new stake in GMS in the fourth quarter worth approximately $11,913,000. JPMorgan Chase & Co. boosted its holdings in GMS by 29.1% in the fourth quarter. JPMorgan Chase & Co. now owns 274,559 shares of the company’s stock worth $23,291,000 after purchasing an additional 61,842 shares during the last quarter. Finally, Barclays PLC grew its position in GMS by 374.0% in the 3rd quarter. Barclays PLC now owns 70,580 shares of the company’s stock worth $6,392,000 after purchasing an additional 55,690 shares during the period. 95.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Theron I. Gilliam sold 12,474 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. This trade represents a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. Turner, Jr. purchased 3,650 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was bought at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the purchase, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

GMS Price Performance

Shares of NYSE:GMS opened at $73.55 on Friday. The company has a market capitalization of $2.82 billion, a P/E ratio of 13.52 and a beta of 1.62. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $105.54. The firm’s 50 day simple moving average is $74.24 and its two-hundred day simple moving average is $84.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44.

GMS (NYSE:GMS) last released its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. Research analysts expect that GMS Inc. will post 7.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. DA Davidson dropped their price target on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Barclays cut their price target on GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Robert W. Baird reduced their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Loop Capital cut their target price on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada decreased their price target on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.