BlackRock Inc. increased its position in shares of GMS Inc (NYSE:GMS) by 13.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,176,031 shares of the company’s stock after buying an additional 262,423 shares during the period. BlackRock Inc. owned 5.30% of GMS worth $58,949,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new stake in GMS in the 1st quarter valued at $233,000. BNP Paribas Arbitrage SA boosted its holdings in GMS by 79.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,764 shares of the company’s stock valued at $298,000 after purchasing an additional 4,313 shares during the period. Fox Run Management L.L.C. bought a new stake in GMS in the 2nd quarter valued at $315,000. Verition Fund Management LLC bought a new stake in GMS in the 1st quarter valued at $353,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in GMS in the 2nd quarter valued at $429,000. 75.72% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. ValuEngine downgraded shares of GMS from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Barclays assumed coverage on shares of GMS in a report on Friday, June 29th. They issued an “overweight” rating and a $30.00 price target for the company. Royal Bank of Canada set a $36.00 price target on shares of GMS and gave the company a “buy” rating in a report on Friday, June 29th. TheStreet downgraded shares of GMS from a “b-” rating to a “c” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research raised shares of GMS from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $36.55.
Shares of GMS stock opened at $19.43 on Friday. GMS Inc has a 52-week low of $19.10 and a 52-week high of $39.98. The firm has a market capitalization of $954.42 million, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26. The company has a quick ratio of 1.93, a current ratio of 3.08 and a debt-to-equity ratio of 2.05.
GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. GMS had a net margin of 2.13% and a return on equity of 15.18%. The company had revenue of $778.10 million during the quarter, compared to analysts’ expectations of $768.61 million. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that GMS Inc will post 3.28 earnings per share for the current year.
In other news, VP Richard Alan Adams bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was acquired at an average price of $24.14 per share, for a total transaction of $72,420.00. Following the transaction, the vice president now directly owns 175,000 shares of the company’s stock, valued at approximately $4,224,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Gavin bought 4,150 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were purchased at an average price of $24.13 per share, with a total value of $100,139.50. Following the transaction, the director now directly owns 16,966 shares in the company, valued at $409,389.58. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,211 shares of company stock valued at $222,559. Corporate insiders own 4.90% of the company’s stock.
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.
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