Meritage Portfolio Management Raises Stake in GMS Inc. (NYSE:GMS)

Meritage Portfolio Management boosted its position in GMS Inc. (NYSE:GMS) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,091 shares of the company’s stock after buying an additional 344 shares during the quarter. Meritage Portfolio Management’s holdings in GMS were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GMS. Squarepoint Ops LLC purchased a new stake in GMS in the second quarter worth approximately $201,000. Creative Planning boosted its stake in GMS by 12.9% in the second quarter. Creative Planning now owns 5,721 shares of the company’s stock worth $461,000 after buying an additional 653 shares in the last quarter. GAMMA Investing LLC boosted its stake in GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after buying an additional 361 shares in the last quarter. Reinhart Partners LLC. boosted its stake in GMS by 6.8% in the third quarter. Reinhart Partners LLC. now owns 529,420 shares of the company’s stock worth $47,950,000 after buying an additional 33,656 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in GMS by 24.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 40,914 shares of the company’s stock worth $3,706,000 after buying an additional 8,100 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Price Performance

Shares of GMS stock opened at $83.97 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The company has a market cap of $3.26 billion, a PE ratio of 15.44 and a beta of 1.72. The business has a 50 day moving average of $87.60 and a 200 day moving average of $90.47. GMS Inc. has a 52 week low of $77.29 and a 52 week high of $105.54.

GMS (NYSE:GMS) last announced its earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. GMS’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 EPS. As a group, equities research analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird lowered their price objective on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, December 6th. Barclays lowered their price objective on GMS from $93.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Truist Financial boosted their price objective on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Loop Capital boosted their price objective on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Finally, DA Davidson lowered their price objective on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $93.57.

Insider Activity at GMS

In related 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 transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

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.