Fmr LLC Acquires 854,987 Shares of GMS Inc. (NYSE:GMS)

FMR LLC raised its stake in GMS Inc. (NYSE:GMS - Free Report) by 25.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,232,170 shares of the company's stock after acquiring an additional 854,987 shares during the period. FMR LLC owned approximately 10.77% of GMS worth $383,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GMS. American Century Companies Inc. boosted its position in shares of GMS by 28.5% during the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company's stock valued at $147,583,000 after buying an additional 406,406 shares during the last quarter. LSV Asset Management grew its stake in shares of GMS by 103.0% in the second quarter. LSV Asset Management now owns 690,820 shares of the company's stock worth $55,687,000 after acquiring an additional 350,478 shares during the period. Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of GMS during the second quarter valued at approximately $24,601,000. Edgestream Partners L.P. bought a new stake in GMS in the 2nd quarter worth approximately $5,402,000. Finally, Renaissance Technologies LLC grew its holdings in shares of GMS by 95.4% in the second quarter. Renaissance Technologies LLC now owns 135,000 shares of the company's stock worth $10,882,000 after acquiring an additional 65,900 shares during the period. Institutional investors own 95.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GMS shares. Truist Financial cut their price target on GMS from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, August 30th. Robert W. Baird upped their target price on shares of GMS from $96.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com cut shares of GMS from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Loop Capital boosted their price objective on shares of GMS from $85.00 to $93.00 and gave the company a "hold" rating in a research report on Monday, November 25th. Finally, DA Davidson cut GMS from a "buy" rating to a "neutral" rating and set a $97.00 target price on the stock. in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $92.50.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

GMS Price Performance

Shares of GMS traded up $0.13 during trading hours on Friday, reaching $100.35. 293,006 shares of the stock traded hands, compared to its average volume of 350,931. The company has a market cap of $3.94 billion, a P/E ratio of 16.56 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The company's 50-day moving average price is $94.68 and its two-hundred day moving average price is $90.77. GMS Inc. has a 52-week low of $66.07 and a 52-week high of $105.54.

GMS (NYSE:GMS - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $2.40 EPS. The business's revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that GMS Inc. will post 7.95 earnings per share for the current 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.