Wellington Shields & Co. LLC acquired a new stake in shares of GMS Inc. (NYSE:GMS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,200 shares of the company’s stock, valued at approximately $361,000.
Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in GMS during the 1st quarter valued at $7,656,000. Canada Pension Plan Investment Board purchased a new position in GMS during the 2nd quarter valued at $1,967,000. Koch Industries Inc. purchased a new position in GMS during the 2nd quarter valued at $324,000. Bank of America Corp DE increased its position in GMS by 0.3% during the 1st quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock valued at $5,651,000 after purchasing an additional 489 shares during the period. Finally, JPMorgan Chase & Co. increased its position in GMS by 415.8% during the 1st quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock valued at $1,570,000 after purchasing an additional 36,124 shares during the period. 55.73% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on GMS shares. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Royal Bank Of Canada boosted their price objective on shares of GMS from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, September 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $37.00 target price on shares of GMS in a research report on Monday, October 9th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $40.00 target price on shares of GMS in a research report on Friday. Finally, Wells Fargo & Company started coverage on shares of GMS in a research report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.38.
GMS Inc. (NYSE GMS) traded down $0.36 during trading hours on Tuesday, hitting $33.85. 212,500 shares of the stock were exchanged, compared to its average volume of 362,915. The stock has a market cap of $1,390.00 and a P/E ratio of 19.77. The company has a quick ratio of 1.82, a current ratio of 2.80 and a debt-to-equity ratio of 1.11. GMS Inc. has a 12-month low of $24.21 and a 12-month high of $36.99.
GMS (NYSE:GMS) last released its earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. The firm had revenue of $642.20 million for the quarter, compared to the consensus estimate of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. analysts expect that GMS Inc. will post 2.01 EPS for the current fiscal year.
In related news, CEO G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $34.52, for a total transaction of $431,500.00. Following the sale, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at approximately $18,240,989.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lynn Ross sold 1,894 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. Insiders have sold a total of 26,894 shares of company stock worth $931,479 over the last three months. 5.90% of the stock is currently owned by insiders.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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