BlackRock Inc. Boosts Holdings in GMS Inc (GMS)

BlackRock Inc. raised its stake in GMS Inc (NYSE:GMS) by 13.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,176,031 shares of the company’s stock after buying an additional 262,423 shares during the quarter. BlackRock Inc. owned 0.05% of GMS worth $58,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GSA Capital Partners LLP lifted its stake in GMS by 133.4% in the second quarter. GSA Capital Partners LLP now owns 128,166 shares of the company’s stock valued at $3,472,000 after buying an additional 73,245 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of GMS by 47.4% in the second quarter. Mutual of America Capital Management LLC now owns 147,404 shares of the company’s stock valued at $3,993,000 after purchasing an additional 47,370 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of GMS by 448.5% in the second quarter. American Century Companies Inc. now owns 445,247 shares of the company’s stock valued at $12,062,000 after purchasing an additional 364,076 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of GMS by 16.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 370,607 shares of the company’s stock valued at $10,040,000 after purchasing an additional 51,400 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of GMS by 490.6% in the second quarter. Russell Investments Group Ltd. now owns 18,000 shares of the company’s stock valued at $488,000 after purchasing an additional 14,952 shares during the last quarter. Hedge funds and other institutional investors own 75.72% of the company’s stock.

A number of research firms have recently issued reports on GMS. Robert W. Baird downgraded shares of GMS from an “outperform” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Tuesday, July 3rd. ValuEngine upgraded shares of GMS from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research upgraded shares of GMS from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, July 4th. Nomura lifted their price objective on shares of GMS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 31st. Finally, Raymond James upgraded shares of GMS from an “outperform” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.55.

In other news, VP Richard Alan Adams bought 3,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average cost of $24.14 per share, for a total transaction of $72,420.00. Following the completion of the acquisition, the vice president now owns 175,000 shares in the company, valued at $4,224,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Gavin bought 4,150 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were purchased at an average price of $24.13 per share, for a total transaction of $100,139.50. Following the completion of the acquisition, the director now owns 16,966 shares of the company’s stock, valued at approximately $409,389.58. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,211 shares of company stock worth $222,559. 4.90% of the stock is owned by corporate insiders.

NYSE GMS opened at $19.43 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 3.08. GMS Inc has a 12-month low of $19.10 and a 12-month high of $39.98. The company has a market capitalization of $954.42 million, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 30th. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. The business had revenue of $778.10 million for the quarter, compared to the consensus estimate of $768.61 million. GMS had a net margin of 2.13% and a return on equity of 15.18%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, analysts predict that GMS Inc will post 3.28 EPS for the current fiscal year.

GMS Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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