GMS Inc. (NYSE:GMS) Stock Position Raised by BlackRock Inc.

BlackRock Inc. lifted its stake in shares of GMS Inc. (NYSE:GMS – Get Rating) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,909,372 shares of the company’s stock after purchasing an additional 163,593 shares during the period. BlackRock Inc. owned approximately 16.29% of GMS worth $276,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coliseum Capital Management LLC lifted its holdings in shares of GMS by 10.7% in the second quarter. Coliseum Capital Management LLC now owns 6,131,573 shares of the company’s stock valued at $272,855,000 after purchasing an additional 594,001 shares in the last quarter. Wellington Management Group LLP purchased a new position in GMS during the 1st quarter valued at about $28,532,000. Millennium Management LLC increased its holdings in shares of GMS by 392.3% in the 2nd quarter. Millennium Management LLC now owns 436,444 shares of the company’s stock valued at $19,422,000 after purchasing an additional 347,783 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of GMS in the third quarter worth approximately $9,430,000. Finally, Prudential Financial Inc. boosted its holdings in shares of GMS by 167.5% during the third quarter. Prudential Financial Inc. now owns 331,113 shares of the company’s stock worth $13,248,000 after purchasing an additional 207,315 shares during the period. Institutional investors and hedge funds own 96.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of GMS from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 24th. Stephens lifted their price objective on GMS from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, December 12th. StockNews.com raised GMS from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 28th. Royal Bank of Canada boosted their price target on GMS from $51.00 to $58.00 and gave the company a “sector perform” rating in a research note on Friday, December 9th. Finally, Barclays raised their price objective on shares of GMS from $60.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Insider Activity

In related news, CEO John C. Turner, Jr. sold 876 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $59.50, for a total transaction of $52,122.00. Following the completion of the transaction, the chief executive officer now owns 68,240 shares of the company’s stock, valued at approximately $4,060,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John C. Turner, Jr. sold 876 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $59.50, for a total value of $52,122.00. Following the sale, the chief executive officer now owns 68,240 shares in the company, valued at $4,060,280. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John C. Turner, Jr. sold 1,526 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $59.50, for a total transaction of $90,797.00. Following the transaction, the chief executive officer now owns 63,110 shares of the company’s stock, valued at $3,755,045. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,468 shares of company stock valued at $1,062,921. 1.60% of the stock is owned by insiders.

GMS Stock Down 2.9 %

GMS opened at $56.20 on Monday. GMS Inc. has a twelve month low of $36.10 and a twelve month high of $62.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.58 and a current ratio of 2.53. The business has a 50 day moving average price of $57.17 and a 200 day moving average price of $50.56. The firm has a market cap of $2.32 billion, a P/E ratio of 7.24 and a beta of 1.85.

GMS (NYSE:GMS – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.01). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. GMS had a return on equity of 34.16% and a net margin of 6.28%. GMS’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. Research analysts forecast that GMS Inc. will post 8.92 EPS for the current year.

About GMS

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GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceiling 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.