Meritage Portfolio Management Acquires 344 Shares of GMS Inc. (NYSE:GMS)

Meritage Portfolio Management lifted its holdings in shares of GMS Inc. (NYSE:GMS) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,091 shares of the company’s stock after purchasing an additional 344 shares during the period. Meritage Portfolio Management’s holdings in GMS were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GMS. GAMMA Investing LLC raised its stake in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after purchasing an additional 361 shares during the period. Blue Trust Inc. raised its stake in GMS by 71.3% in the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock valued at $62,000 after acquiring an additional 285 shares during the period. KBC Group NV raised its stake in GMS by 31.9% in the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares during the period. Squarepoint Ops LLC bought a new stake in GMS in the 2nd quarter valued at about $201,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in GMS in the 3rd quarter valued at about $219,000. 95.28% of the stock is currently owned by institutional investors.

Insider Transactions at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

GMS Stock Down 0.3 %

GMS stock opened at $83.97 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $3.26 billion, a PE ratio of 15.44 and a beta of 1.72. GMS Inc. has a twelve month low of $77.29 and a twelve month high of $105.54. The stock has a 50-day simple moving average of $87.60 and a two-hundred day simple moving average of $90.47.

GMS (NYSE:GMS) last posted its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 EPS. On average, equities analysts predict that GMS Inc. will post 7.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GMS. Barclays lowered their price objective on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. DA Davidson lowered their price objective on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Truist Financial boosted their price objective on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Robert W. Baird lowered their price objective on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 price objective (up from $78.00) on shares of GMS in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $93.57.

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.