Summit Global Investments Raises Position in GMS Inc. (NYSE:GMS)

Summit Global Investments boosted its position in GMS Inc. (NYSE:GMS) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,679 shares of the company’s stock after purchasing an additional 3,977 shares during the period. Summit Global Investments’ holdings in GMS were worth $1,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in GMS by 131.1% in the 4th quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $31,000 after buying an additional 211 shares during the period. GAMMA Investing LLC bought a new position in shares of GMS in the fourth quarter worth $32,000. Hexagon Capital Partners LLC grew its position in shares of GMS by 233.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock valued at $35,000 after purchasing an additional 301 shares in the last quarter. CI Investments Inc. purchased a new stake in GMS during the 3rd quarter worth about $155,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in GMS by 9.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,602 shares of the company’s stock worth $230,000 after purchasing an additional 316 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GMS shares. Truist Financial upped their price target on GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Stephens raised their price target on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Robert W. Baird increased their price objective on GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their target price on GMS from $84.00 to $92.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Finally, Barclays lifted their price target on GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.63.

GMS Trading Up 0.6 %

GMS stock traded up $0.60 during trading on Friday, hitting $95.32. 154,135 shares of the company traded hands, compared to its average volume of 350,186. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. GMS Inc. has a 1 year low of $55.88 and a 1 year high of $101.04. The company has a 50-day moving average of $93.86 and a 200-day moving average of $81.53. The firm has a market capitalization of $3.79 billion, a PE ratio of 13.35 and a beta of 1.71.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $1.26 billion for 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 earnings per share. Analysts predict that GMS Inc. will post 8.36 earnings per share for the current fiscal year.

Insider Transactions at GMS

In other GMS news, SVP Craig D. Apolinsky sold 20,000 shares of the 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 completion of 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 SEC, which is available at this link. In other GMS news, COO George T. Hendren sold 10,554 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the sale, the chief operating officer now directly owns 23,261 shares in the company, valued at $2,244,453.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Craig D. Apolinsky sold 20,000 shares of GMS stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 directly owns 10,360 shares in the company, valued at $1,000,465.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,820 shares of company stock worth $3,561,192. Company insiders own 1.90% of the company’s stock.

GMS Company 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.