Charles Schwab Investment Management Inc. Buys 2,674 Shares of GMS Inc. (NYSE:GMS)

Charles Schwab Investment Management Inc. increased its position in GMS Inc. (NYSE:GMS) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,051 shares of the company’s stock after purchasing an additional 2,674 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.51% of GMS worth $53,803,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GMS. American Century Companies Inc. raised its holdings in GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after buying an additional 406,406 shares during the last quarter. LSV Asset Management lifted its holdings in shares of GMS by 103.0% during the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of GMS during the second quarter valued at $24,601,000. Edgestream Partners L.P. bought a new stake in GMS in the 2nd quarter worth about $5,402,000. Finally, Renaissance Technologies LLC lifted its stake in GMS by 95.4% during the 2nd quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock valued at $10,882,000 after acquiring an additional 65,900 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

GMS Price Performance

NYSE GMS opened at $100.35 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. GMS Inc. has a 12 month low of $66.07 and a 12 month high of $105.54. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 16.56 and a beta of 1.68. The company’s 50 day moving average is $94.68 and its two-hundred day moving average is $90.81.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.40 earnings per share. As a group, research analysts anticipate that GMS Inc. will post 7.95 earnings per share for the current year.

Analyst Ratings Changes

GMS has been the subject of several research reports. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Loop Capital raised their price target on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, November 25th. Robert W. Baird upped their price objective on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, DA Davidson cut shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.50.

GMS Company 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.