River Road Asset Management LLC boosted its holdings in shares of GMS Inc. (NYSE:GMS) by 6.6% during the second quarter, HoldingsChannel.com reports. The firm owned 359,651 shares of the company’s stock after purchasing an additional 22,300 shares during the period. River Road Asset Management LLC’s holdings in GMS were worth $17,314,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Blueshift Asset Management LLC purchased a new position in GMS during the first quarter worth approximately $1,012,000. Barclays PLC lifted its position in shares of GMS by 13.6% in the first quarter. Barclays PLC now owns 58,488 shares of the company’s stock valued at $2,441,000 after acquiring an additional 7,020 shares in the last quarter. Swiss National Bank lifted its position in shares of GMS by 1.1% in the first quarter. Swiss National Bank now owns 97,700 shares of the company’s stock valued at $4,079,000 after acquiring an additional 1,100 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of GMS by 32.5% in the first quarter. Janus Henderson Group PLC now owns 18,766 shares of the company’s stock valued at $783,000 after acquiring an additional 4,607 shares in the last quarter. Finally, Profund Advisors LLC purchased a new position in shares of GMS in the first quarter valued at approximately $229,000. Institutional investors own 98.35% of the company’s stock.
In other GMS news, major shareholder Coliseum Capital Management, L bought 40,000 shares of the business’s stock in a transaction on Tuesday, September 7th. The stock was bought at an average price of $50.38 per share, with a total value of $2,015,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Turner, Jr. sold 3,285 shares of the firm’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $49.78, for a total value of $163,527.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 279,761 shares of company stock valued at $13,379,692. 1.40% of the stock is owned by insiders.
GMS (NYSE:GMS) last posted its earnings results on Wednesday, September 1st. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.41. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $973.78 million. GMS had a return on equity of 23.44% and a net margin of 3.94%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. On average, analysts predict that GMS Inc. will post 5.35 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the company. Barclays raised their target price on GMS from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 8th. Robert W. Baird raised their target price on GMS from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, September 3rd. Royal Bank of Canada upgraded GMS from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $60.00 in a research report on Friday, June 25th. TheStreet upgraded GMS from a “c+” rating to a “b” rating in a research report on Thursday, June 24th. Finally, Truist lifted their price objective on GMS from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $59.29.
GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm 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.
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