Fmr LLC Raises Position in GMS Inc. (NYSE:GMS)

Fmr LLC lifted its stake in GMS Inc. (NYSE:GMS) by 38.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,868,782 shares of the company’s stock after buying an additional 1,636,612 shares during the period. Fmr LLC owned approximately 0.15% of GMS worth $497,849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GMS. Pacer Advisors Inc. purchased a new position in GMS in the fourth quarter valued at about $109,277,000. 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 valued at $23,291,000 after purchasing an additional 61,842 shares during the last quarter. Barclays PLC boosted its holdings in GMS by 374.0% in the third quarter. Barclays PLC now owns 70,580 shares of the company’s stock valued at $6,392,000 after purchasing an additional 55,690 shares during the last quarter. KBC Group NV boosted its holdings in GMS by 4,496.9% in the fourth quarter. KBC Group NV now owns 53,416 shares of the company’s stock valued at $4,531,000 after purchasing an additional 52,254 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in GMS by 229.3% in the fourth quarter. Teacher Retirement System of Texas now owns 50,697 shares of the company’s stock valued at $4,301,000 after purchasing an additional 35,300 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Up 10.5 %

Shares of GMS stock opened at $73.77 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $76.73 and its 200-day simple moving average is $86.17. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.56 and a beta of 1.62. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $105.54.

GMS (NYSE:GMS) last posted its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. Equities research analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays reduced their price target on GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. DA Davidson cut their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada cut their price objective on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Loop Capital cut their price objective on GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird cut their price objective on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Insider Activity at GMS

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

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.