Geode Capital Management LLC Purchases 2,097 Shares of GMS Inc. (NYSE:GMS)

Geode Capital Management LLC increased its position in GMS Inc. (NYSE:GMS) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 899,177 shares of the company’s stock after acquiring an additional 2,097 shares during the quarter. Geode Capital Management LLC’s holdings in GMS were worth $81,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in shares of GMS by 148.8% in the third quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock worth $1,495,000 after purchasing an additional 9,876 shares during the period. Victory Capital Management Inc. grew its holdings in GMS by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after buying an additional 6,136 shares during the last quarter. Algert Global LLC increased its position in GMS by 22.8% in the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock worth $12,215,000 after buying an additional 28,137 shares during the period. Barclays PLC lifted its holdings in shares of GMS by 374.0% during the third quarter. Barclays PLC now owns 70,580 shares of the company’s stock worth $6,392,000 after buying an additional 55,690 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in shares of GMS by 71.5% during the third quarter. Vestcor Inc now owns 14,330 shares of the company’s stock worth $1,298,000 after buying an additional 5,972 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Trading Up 0.7 %

Shares of GMS opened at $86.01 on Friday. The stock has a 50 day simple moving average of $95.66 and a 200-day simple moving average of $90.81. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market cap of $3.34 billion, a PE ratio of 15.81 and a beta of 1.68. GMS Inc. has a 1 year low of $77.01 and a 1 year high of $105.54.

GMS (NYSE:GMS) last issued its earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.24). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 EPS. On average, sell-side analysts predict that GMS Inc. will post 7.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GMS. DA Davidson dropped their target price on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Barclays upped their price objective on shares of GMS from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $86.00 target price (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. Robert W. Baird lowered their price target on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, December 6th. Finally, Truist Financial raised their price objective on GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.43.

About GMS

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.