SummerHaven Investment Management LLC Buys 136 Shares of GMS Inc. (NYSE:GMS)

SummerHaven Investment Management LLC raised its stake in shares of GMS Inc. (NYSE:GMS) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,231 shares of the company’s stock after purchasing an additional 136 shares during the quarter. SummerHaven Investment Management LLC’s holdings in GMS were worth $843,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GMS. Simplicity Solutions LLC bought a new position in shares of GMS during the 3rd quarter worth about $534,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of GMS by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock worth $300,000 after purchasing an additional 232 shares during the period. Raymond James & Associates increased its holdings in shares of GMS by 23.8% during the 3rd quarter. Raymond James & Associates now owns 36,263 shares of the company’s stock worth $2,320,000 after purchasing an additional 6,964 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of GMS during the 3rd quarter worth about $234,000. Finally, Reinhart Partners LLC. increased its holdings in shares of GMS by 3.7% during the 3rd quarter. Reinhart Partners LLC. now owns 426,363 shares of the company’s stock worth $27,274,000 after purchasing an additional 15,126 shares during the period. Institutional investors own 95.28% of the company’s stock.

Insiders Place Their Bets

In other GMS news, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the sale, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO John C. Turner, Jr. sold 6,266 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total value of $611,436.28. Following the completion of the sale, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO George T. Hendren sold 10,554 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $96.49, for a total value of $1,018,355.46. Following the sale, the chief operating officer now directly owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The disclosure for this sale can be found here. In the last three months, insiders sold 36,820 shares of company stock valued at $3,561,192. 1.90% of the stock is currently owned by insiders.

GMS Price Performance

GMS stock traded up $0.43 during trading hours on Monday, hitting $93.32. 22,316 shares of the stock were exchanged, compared to its average volume of 350,560. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. The stock has a market capitalization of $3.71 billion, a P/E ratio of 13.01 and a beta of 1.73. GMS Inc. has a 12 month low of $55.88 and a 12 month high of $101.04. The business’s 50-day moving average is $93.33 and its two-hundred day moving average is $80.61.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens upped their target price on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Royal Bank of Canada upped their target price on shares of GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Barclays upped their target price on shares of GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 5th. Robert W. Baird upped their target price on shares of GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Truist Financial upped their target price on shares of GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.63.

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.