GMS Inc. (NYSE:GMS) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management lifted its stake in shares of GMS Inc. (NYSE:GMS) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,603 shares of the company’s stock after buying an additional 657 shares during the quarter. Meritage Portfolio Management’s holdings in GMS were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GMS. Simplicity Solutions LLC acquired a new position in shares of GMS during the third quarter worth about $534,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GMS by 5.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock valued at $300,000 after acquiring an additional 232 shares during the period. Raymond James & Associates boosted its holdings in shares of GMS by 23.8% in the third quarter. Raymond James & Associates now owns 36,263 shares of the company’s stock valued at $2,320,000 after acquiring an additional 6,964 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of GMS in the third quarter valued at approximately $234,000. Finally, Reinhart Partners LLC. boosted its holdings in shares of GMS by 3.7% in the third quarter. Reinhart Partners LLC. now owns 426,363 shares of the company’s stock valued at $27,274,000 after acquiring an additional 15,126 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the completion of the transaction, the senior vice president now owns 10,360 shares in the company, valued at $1,000,465.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the completion of the transaction, the senior vice president now owns 10,360 shares in the company, valued at $1,000,465.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John C. Turner, Jr. sold 6,266 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total value of $611,436.28. Following the completion of the transaction, the chief executive officer now owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,820 shares of company stock worth $3,561,192. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GMS shares. Stephens increased their price objective on GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, January 26th. StockNews.com raised GMS from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Robert W. Baird increased their price target on GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Truist Financial increased their price target on GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada increased their price target on GMS from $84.00 to $92.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.63.

GMS Price Performance

NYSE:GMS traded down $0.19 during trading hours on Friday, hitting $92.66. The company’s stock had a trading volume of 190,483 shares, compared to its average volume of 352,501. The business’s 50-day moving average is $93.24 and its two-hundred day moving average is $80.16. The company has a market capitalization of $3.69 billion, a PE ratio of 13.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. GMS Inc. has a 52-week low of $54.99 and a 52-week high of $101.04.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GMS had a return on equity of 25.65% and a net margin of 5.48%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. As a group, research analysts anticipate that GMS Inc. will post 8.36 EPS for the current fiscal year.

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.