Bank of Montreal Can Acquires 499 Shares of GMS Inc. (NYSE:GMS)

Bank of Montreal Can boosted its stake in GMS Inc. (NYSE:GMS) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,359 shares of the company’s stock after purchasing an additional 499 shares during the quarter. Bank of Montreal Can’s holdings in GMS were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after acquiring an additional 1,636,612 shares during the last quarter. Aristides Capital LLC raised its position in GMS by 38.9% during the fourth quarter. Aristides Capital LLC now owns 3,327 shares of the company’s stock valued at $282,000 after purchasing an additional 932 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in GMS during the fourth quarter worth about $280,000. Envestnet Asset Management Inc. lifted its stake in GMS by 10.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,448 shares of the company’s stock worth $2,159,000 after purchasing an additional 2,410 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of GMS in the 4th quarter worth about $193,000. 95.28% of the stock is currently owned by institutional investors.

Insider Transactions at GMS

In other GMS news, CEO John C. Turner, Jr. purchased 3,650 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $70.00 per share, with a total value of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares in the company, valued at approximately $2,314,504.22. This trade represents a 28.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson lowered their price objective on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Loop Capital lowered their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Robert W. Baird reduced their price objective on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Truist Financial lowered their target price on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Finally, UBS Group set a $80.00 price target on GMS in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

GMS Stock Performance

NYSE:GMS opened at $69.53 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm’s fifty day simple moving average is $74.72 and its 200 day simple moving average is $85.11. The stock has a market cap of $2.67 billion, a P/E ratio of 12.78 and a beta of 1.62. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $105.54.

GMS (NYSE:GMS) last announced its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, research analysts predict that GMS Inc. will post 7.26 EPS 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.