Wells Fargo & Company MN raised its position in GMS Inc. (NYSE:GMS) by 43.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 960,661 shares of the company’s stock after purchasing an additional 290,711 shares during the period. Wells Fargo & Company MN owned approximately 2.34% of GMS worth $26,994,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. American International Group Inc. increased its stake in GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock valued at $153,000 after purchasing an additional 288 shares in the last quarter. Bank of America Corp DE increased its stake in GMS by 0.3% in the first quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock valued at $5,651,000 after purchasing an additional 489 shares in the last quarter. Sei Investments Co. increased its stake in GMS by 7.1% in the second quarter. Sei Investments Co. now owns 15,073 shares of the company’s stock valued at $424,000 after purchasing an additional 1,005 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in GMS by 0.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 376,000 shares of the company’s stock valued at $10,565,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Coe Capital Management LLC increased its stake in GMS by 5.5% in the first quarter. Coe Capital Management LLC now owns 27,540 shares of the company’s stock valued at $965,000 after purchasing an additional 1,435 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages have commented on GMS. ValuEngine raised shares of GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada upped their target price on shares of GMS from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, July 3rd. Finally, Stephens lowered their target price on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.33.

Shares of GMS Inc. (NYSE GMS) opened at 34.78 on Friday. The firm has a 50-day moving average of $33.83 and a 200 day moving average of $33.83. GMS Inc. has a 52 week low of $20.51 and a 52 week high of $35.00. The company has a market cap of $1.42 billion, a P/E ratio of 26.63 and a beta of 3.31.

GMS (NYSE:GMS) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. The firm had revenue of $642.20 million for the quarter, compared to the consensus estimate of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts anticipate that GMS Inc. will post $2.02 earnings per share for the current fiscal year.

GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

Institutional Ownership by Quarter for GMS (NYSE:GMS)

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