Fmr LLC Buys 854,987 Shares of GMS Inc. (NYSE:GMS)

Fmr LLC raised its position in shares of GMS Inc. (NYSE:GMS) by 25.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,232,170 shares of the company’s stock after acquiring an additional 854,987 shares during the period. Fmr LLC owned approximately 10.77% of GMS worth $383,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares during the period. Quarry LP raised its position 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 buying an additional 109 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after buying an additional 361 shares during the period. KBC Group NV grew its position in GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after buying an additional 281 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in GMS during the 2nd quarter worth $121,000. Institutional investors own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GMS. Barclays reduced their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. DA Davidson lowered shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Tuesday, November 26th. Loop Capital boosted their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Truist Financial reduced their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.50.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

GMS Stock Performance

Shares of GMS stock opened at $100.35 on Friday. The company’s 50 day moving average price is $94.68 and its two-hundred day moving average price is $90.81. The firm has a market capitalization of $3.94 billion, a P/E ratio of 16.56 and a beta of 1.68. GMS Inc. has a fifty-two week low of $66.07 and a fifty-two week high of $105.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45.

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

About GMS

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.