Mackenzie Financial Corp Purchases 542 Shares of GMS Inc. (NYSE:GMS)

Mackenzie Financial Corp boosted its position in GMS Inc. (NYSE:GMS) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,835 shares of the company’s stock after acquiring an additional 542 shares during the period. Mackenzie Financial Corp’s holdings in GMS were worth $646,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after acquiring an additional 211 shares during the last quarter. CI Investments Inc. bought a new position in GMS in the third quarter valued at about $155,000. Allspring Global Investments Holdings LLC boosted its holdings in GMS by 9.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,602 shares of the company’s stock valued at $230,000 after acquiring an additional 316 shares during the last quarter. AlphaMark Advisors LLC bought a new position in GMS during the third quarter worth about $234,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in GMS during the third quarter worth about $234,000. Institutional investors own 95.28% of the company’s stock.

Insider Buying and Selling at GMS

In other GMS news, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the sale, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other GMS news, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the sale, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO George T. Hendren sold 10,554 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $96.49, for a total value of $1,018,355.46. Following the sale, the chief operating officer now owns 23,261 shares in the company, valued at approximately $2,244,453.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,820 shares of company stock worth $3,561,192. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird raised their target price on GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada raised their target price on GMS from $84.00 to $92.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Stephens raised their target price on GMS from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Truist Financial raised their target price on GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Barclays raised their target price on GMS from $75.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.63.

GMS Price Performance

Shares of GMS opened at $92.85 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. The stock has a 50 day simple moving average of $93.18 and a 200 day simple moving average of $80.07. GMS Inc. has a 52-week low of $54.59 and a 52-week high of $101.04. The firm has a market capitalization of $3.70 billion, a PE ratio of 13.00 and a beta of 1.73.

GMS (NYSE:GMS) last released its earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.27 billion. GMS had a net margin of 5.48% and a return on equity of 25.65%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. Sell-side analysts predict that GMS Inc. will post 8.36 EPS 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.