137,905 Shares in GMS Inc. (NYSE:GMS) Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new position in shares of GMS Inc. (NYSE:GMS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 137,905 shares of the company’s stock, valued at approximately $12,490,000.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. Quarry LP increased its holdings in shares of GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC lifted its holdings in GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares during the last quarter. KBC Group NV boosted its position in GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after purchasing an additional 281 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of GMS during the 2nd quarter worth about $121,000. 95.28% of the stock is currently owned by institutional investors.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

GMS Stock Performance

NYSE:GMS opened at $97.78 on Friday. The stock’s 50-day moving average is $95.56 and its 200-day moving average is $91.00. GMS Inc. has a 1-year low of $68.13 and a 1-year high of $105.54. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The stock has a market cap of $3.84 billion, a P/E ratio of 16.14 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.30 earnings per share. Equities research analysts anticipate that GMS Inc. will post 7.95 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.