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

Fmr LLC boosted its stake in GMS Inc. (NYSE:GMS) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,232,170 shares of the company’s stock after acquiring an additional 854,987 shares during the period. Fmr LLC owned 0.11% of GMS worth $383,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GMS. Blue Trust Inc. boosted its position in shares of GMS by 86.4% during 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 in the last quarter. Quarry LP boosted its holdings in shares of GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of GMS by 138.8% in the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after acquiring an additional 361 shares in the last quarter. KBC Group NV increased its stake in GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after purchasing an additional 281 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of GMS during the second quarter valued at about $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Buying and Selling

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

GMS Trading Up 0.1 %

Shares of GMS stock opened at $100.35 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 16.56 and a beta of 1.68. GMS Inc. has a 52-week low of $66.07 and a 52-week high of $105.54. The company has a 50-day simple moving average of $94.68 and a two-hundred day simple moving average of $90.81.

GMS (NYSE:GMS) last announced its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 EPS. Research analysts anticipate that GMS Inc. will post 7.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on GMS shares. Robert W. Baird boosted their target price on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays lowered their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. Loop Capital lifted their price target 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 dropped their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.50.

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.