Raymond James & Associates Takes Position in GMS Inc (GMS)

Raymond James & Associates purchased a new position in GMS Inc (NYSE:GMS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,980 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in GMS by 13.7% in the 2nd quarter. BlackRock Inc. now owns 2,176,031 shares of the company’s stock worth $58,949,000 after buying an additional 262,423 shares during the period. FMR LLC increased its holdings in GMS by 1.0% in the 2nd quarter. FMR LLC now owns 1,134,700 shares of the company’s stock worth $30,739,000 after buying an additional 10,700 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in GMS by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 983,380 shares of the company’s stock worth $26,640,000 after buying an additional 4,675 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of GMS by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 891,608 shares of the company’s stock worth $24,151,000 after purchasing an additional 225,233 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of GMS by 18.3% during the 1st quarter. Principal Financial Group Inc. now owns 671,826 shares of the company’s stock worth $20,531,000 after purchasing an additional 103,930 shares during the period. Institutional investors own 75.67% of the company’s stock.

In related news, Director John J. Gavin purchased 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 purchase, the director now owns 16,966 shares of the company’s stock, valued at $409,389.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lynn Ross purchased 2,061 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was bought at an average cost of $24.26 per share, for a total transaction of $49,999.86. Following the purchase, the insider now directly owns 2,061 shares in the company, valued at approximately $49,999.86. The disclosure for this purchase can be found here. Insiders have bought a total of 9,211 shares of company stock worth $222,559 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.

GMS has been the topic of a number of analyst reports. Zacks Investment Research raised shares of GMS from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday. TheStreet cut shares of GMS from a “c-” rating to a “d+” rating in a research note on Wednesday, October 24th. ValuEngine cut shares of GMS from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. Raymond James raised their price objective on shares of GMS from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Finally, Nomura raised their price objective on shares of GMS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. GMS presently has a consensus rating of “Buy” and a consensus price target of $35.10.

Shares of NYSE GMS opened at $18.04 on Friday. The company has a market cap of $676.32 million, a PE ratio of 7.94, a PEG ratio of 0.71 and a beta of 2.11. GMS Inc has a 12 month low of $14.89 and a 12 month high of $39.98. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 3.08.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, August 30th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $778.10 million for the quarter, compared to analysts’ expectations of $768.61 million. GMS had a net margin of 2.13% and a return on equity of 15.18%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. As a group, analysts forecast that GMS Inc will post 3.3 EPS for the current fiscal year.

GMS Company Profile

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.

Read More: Analyst Ratings

Want to see what other hedge funds are holding GMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GMS Inc (NYSE:GMS).

Institutional Ownership by Quarter for GMS (NYSE:GMS)

Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply