Goldman Sachs Group Inc. Increases Position in GMS Inc. (GMS)
Goldman Sachs Group Inc. boosted its stake in shares of GMS Inc. (NYSE:GMS) by 9.0% during the first quarter, Holdings Channel reports. The institutional investor owned 29,614 shares of the company’s stock after buying an additional 2,436 shares during the period. Goldman Sachs Group Inc.’s holdings in GMS were worth $1,038,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Alambic Investment Management L.P. purchased a new stake in shares of GMS during the first quarter valued at approximately $203,000. TFS Capital LLC purchased a new stake in shares of GMS during the first quarter valued at approximately $221,000. Swiss National Bank increased its stake in shares of GMS by 174.8% in the first quarter. Swiss National Bank now owns 37,100 shares of the company’s stock valued at $1,300,000 after buying an additional 23,600 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of GMS by 49.4% in the first quarter. Bank of New York Mellon Corp now owns 45,055 shares of the company’s stock valued at $1,578,000 after buying an additional 14,893 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of GMS during the first quarter valued at approximately $2,540,000. Institutional investors own 42.01% of the company’s stock.
GMS Inc. (GMS) traded up 2.50% during trading on Friday, reaching $29.56. The company’s stock had a trading volume of 451,152 shares. The company has a 50-day moving average of $29.42 and a 200 day moving average of $31.96. GMS Inc. has a one year low of $20.23 and a one year high of $36.99. The firm has a market cap of $1.21 billion, a PE ratio of 24.84 and a beta of 3.53.
GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $615 million for the quarter, compared to analysts’ expectations of $614.93 million. GMS had a net margin of 2.11% and a return on equity of 14.15%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Analysts expect that GMS Inc. will post $1.99 EPS for the current fiscal year.
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Several analysts have recently commented on the company. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $38.00 target price on shares of GMS in a research note on Monday, June 19th. Zacks Investment Research downgraded GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens reduced their target price on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Finally, Northcoast Research upgraded 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.17.
In other news, SVP Richard Alan Adams sold 83,950 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the sale, the senior vice president now owns 170,000 shares in the company, valued at $5,385,600. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Investors Lp Aea sold 2,902,129 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $91,939,446.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,986,079 shares of company stock worth $126,278,983.
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.
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