Summit Securities Group LLC Purchases New Position in GMS Inc. (NYSE:GMS)

Summit Securities Group LLC purchased a new stake in GMS Inc. (NYSE:GMS) in the first quarter, HoldingsChannel reports. The fund purchased 3,112 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of GMS by 51.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,116 shares of the company’s stock valued at $598,000 after acquiring an additional 2,753 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of GMS by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 224,048 shares of the company’s stock valued at $16,394,000 after acquiring an additional 3,799 shares during the last quarter. SG Americas Securities LLC bought a new stake in GMS in the first quarter worth about $442,000. Yousif Capital Management LLC lifted its stake in GMS by 1.0% in the first quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock worth $1,108,000 after purchasing an additional 147 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company’s stock worth $59,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of GMS from $95.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Raymond James Financial downgraded shares of GMS from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 25th. Truist Financial raised their price objective on shares of GMS from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 1st. Robert W. Baird reissued a “neutral” rating and issued a $95.00 price objective (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Finally, Stephens downgraded shares of GMS from a “strong-buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research note on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.11.

Insider Activity at GMS

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the completion of the sale, the chief operating officer owned 23,950 shares of the company’s stock, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the transaction, the insider directly owned 3,486,524 shares of the company’s stock, valued at $383,691,966.20. This trade represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock valued at $37,808,097 in the last ninety days. Insiders own 1.90% of the company’s stock.

GMS Stock Performance

GMS stock opened at $109.41 on Friday. The company has a 50 day moving average price of $102.63 and a 200-day moving average price of $85.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $110.28. The company has a market capitalization of $4.16 billion, a PE ratio of 37.86 and a beta of 1.76.

GMS (NYSE:GMS) last posted its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

GMS Profile

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.