Wellington Shields Capital Management LLC acquired a new position in shares of GMS Inc. (NYSE:GMS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,000 shares of the company’s stock, valued at approximately $478,000.
A number of other hedge funds have also recently added to or reduced their stakes in GMS. Vaughan Nelson Investment Management L.P. raised 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 worth $10,565,000 after buying an additional 1,325 shares in the last quarter. Bank of Montreal Can purchased a new stake in GMS during the second quarter worth $4,066,000. Goldman Sachs Group Inc. raised its stake in GMS by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 29,614 shares of the company’s stock worth $1,038,000 after buying an additional 2,436 shares in the last quarter. Credit Suisse AG raised its stake in GMS by 91.1% in the first quarter. Credit Suisse AG now owns 227,681 shares of the company’s stock worth $7,977,000 after buying an additional 108,549 shares in the last quarter. Finally, Park West Asset Management LLC purchased a new stake in GMS during the first quarter worth $17,520,000. Institutional investors and hedge funds own 41.32% of the company’s stock.
Shares of GMS Inc. (NYSE GMS) opened at 29.59 on Thursday. GMS Inc. has a 52 week low of $20.23 and a 52 week high of $36.99. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.87 and a beta of 3.53. The stock has a 50 day moving average of $29.30 and a 200-day moving average of $31.96.
GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $615 million during the quarter, compared to analyst estimates of $614.93 million. GMS had a net margin of 2.11% and a return on equity of 14.15%. GMS’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, analysts anticipate that GMS Inc. will post $1.99 EPS for the current year.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens reduced their price objective 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. Northcoast Research upgraded shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, July 3rd. Royal Bank Of Canada restated a “buy” rating and set a $38.00 price objective on shares of GMS in a research note on Monday, June 19th. Finally, ValuEngine upgraded shares of GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. GMS currently has a consensus rating of “Buy” and a consensus target price of $36.17.
In related news, 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 value of $91,939,446.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard K. Mueller sold 1,000,000 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 $31,680,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,986,079 shares of company stock valued at $126,278,983 over the last ninety days.
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.
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