Comerica Bank purchased a new position in shares of GMS Inc (NYSE:GMS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,985 shares of the company’s stock, valued at approximately $704,000. Comerica Bank owned approximately 0.08% of GMS at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP bought a new stake in GMS during the first quarter valued at about $36,000. NumerixS Investment Technologies Inc raised its stake in shares of GMS by 233.3% in the first quarter. NumerixS Investment Technologies Inc now owns 7,000 shares of the company’s stock worth $106,000 after purchasing an additional 4,900 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of GMS by 54.6% in the first quarter. BNP Paribas Arbitrage SA now owns 16,718 shares of the company’s stock worth $253,000 after purchasing an additional 5,905 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of GMS in the first quarter worth about $110,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of GMS in the second quarter worth about $217,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of GMS stock traded down $0.03 on Friday, hitting $27.75. The stock had a trading volume of 113,999 shares, compared to its average volume of 988,698. The company’s 50 day moving average price is $24.03 and its 200-day moving average price is $19.86. The firm has a market capitalization of $1.15 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.27 and a beta of 2.18. GMS Inc has a 1 year low of $13.61 and a 1 year high of $30.54. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.29 and a quick ratio of 1.46.
GMS (NYSE:GMS) last posted its earnings results on Thursday, August 29th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The business had revenue of $847.20 million during the quarter, compared to the consensus estimate of $837.65 million. GMS had a return on equity of 18.99% and a net margin of 2.27%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. On average, equities analysts forecast that GMS Inc will post 3.1 EPS for the current year.
GMS has been the topic of several analyst reports. Stephens set a $34.00 target price on GMS and gave the stock a “buy” rating in a report on Friday, August 30th. Raymond James set a $31.00 target price on GMS and gave the stock a “buy” rating in a report on Friday, August 30th. Zacks Investment Research raised GMS from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday. Royal Bank of Canada set a $30.00 price objective on GMS and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $33.00 price target (up from $28.00) on shares of GMS in a research note on Friday, August 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $29.90.
In other GMS news, major shareholder Investors Fund V. Lp Aea sold 6,825,058 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $26.93, for a total value of $183,798,811.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO G Michael Callahan, Jr. sold 28,950 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.61, for a total value of $654,559.50. Following the completion of the transaction, the chief executive officer now directly owns 428,314 shares in the company, valued at $9,684,179.54. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.
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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