Summit Global Investments Has $1.62 Million Stock Holdings in GMS Inc. (NYSE:GMS)

Summit Global Investments raised its position in GMS Inc. (NYSE:GMS) by 25.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,679 shares of the company’s stock after acquiring an additional 3,977 shares during the period. Summit Global Investments’ holdings in GMS were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its stake in GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. GAMMA Investing LLC bought a new stake in shares of GMS in the 4th quarter worth about $32,000. Hexagon Capital Partners LLC increased its position in shares of GMS by 233.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock worth $35,000 after purchasing an additional 301 shares in the last quarter. CI Investments Inc. bought a new position in shares of GMS in the third quarter valued at approximately $155,000. Finally, Allspring Global Investments Holdings LLC raised its position in GMS by 9.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,602 shares of the company’s stock valued at $230,000 after purchasing an additional 316 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stephens boosted their price target on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Royal Bank of Canada upped their price objective on shares of GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. StockNews.com lowered GMS from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Truist Financial lifted their price objective on shares of GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Barclays upped their target price on GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.63.

Insider Activity at GMS

In other news, SVP Craig D. Apolinsky sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the completion of the sale, the senior vice president now owns 10,360 shares of the company’s stock, valued at approximately $1,000,465.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John C. Turner, Jr. sold 6,266 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $97.58, for a total transaction of $611,436.28. Following the transaction, the chief executive officer now owns 48,074 shares in the company, valued at $4,691,060.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Craig D. Apolinsky sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the sale, the senior vice president now owns 10,360 shares of the company’s stock, valued at $1,000,465.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,820 shares of company stock worth $3,561,192. 1.90% of the stock is owned by insiders.

GMS Stock Up 0.6 %

Shares of GMS traded up $0.60 on Friday, hitting $95.32. 154,135 shares of the stock traded hands, compared to its average volume of 350,186. The company has a market capitalization of $3.79 billion, a PE ratio of 13.35 and a beta of 1.71. GMS Inc. has a one year low of $55.88 and a one year high of $101.04. 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 business has a 50 day simple moving average of $93.86 and a 200 day simple moving average of $81.53.

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

GMS Profile

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.