Weiss Asset Management LP Invests $12.49 Million in GMS Inc. (NYSE:GMS)

Weiss Asset Management LP acquired a new position in shares of GMS Inc. (NYSE:GMS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 137,905 shares of the company's stock, valued at approximately $12,490,000. Weiss Asset Management LP owned about 0.35% of GMS as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GMS. QRG Capital Management Inc. increased its holdings in GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company's stock worth $664,000 after purchasing an additional 161 shares during the last quarter. SG Americas Securities LLC increased its holdings in GMS by 27.8% during the 2nd quarter. SG Americas Securities LLC now owns 5,154 shares of the company's stock worth $415,000 after purchasing an additional 1,120 shares during the last quarter. Reinhart Partners LLC. increased its holdings in GMS by 1.7% during the 2nd quarter. Reinhart Partners LLC. now owns 495,764 shares of the company's stock worth $39,964,000 after purchasing an additional 8,215 shares during the last quarter. Blue Trust Inc. increased its holdings in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company's stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Finally, Summit Global Investments increased its holdings in GMS by 2.0% during the 2nd quarter. Summit Global Investments now owns 14,712 shares of the company's stock worth $1,186,000 after purchasing an additional 288 shares during the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GMS has been the topic of several analyst reports. Loop Capital lifted their price objective on GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, November 25th. StockNews.com lowered GMS from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Barclays lifted their target price on GMS from $80.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Friday. Robert W. Baird decreased their target price on GMS from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, GMS presently has a consensus rating of "Hold" and a consensus price target of $93.25.

GMS Stock Performance

NYSE:GMS traded down $0.72 during midday trading on Friday, reaching $97.04. 277,622 shares of the company traded hands, compared to its average volume of 382,314. GMS Inc. has a twelve month low of $68.13 and a twelve month high of $105.54. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 15.90 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The company has a fifty day moving average price of $95.56 and a 200 day moving average price of $91.00.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.26 by ($0.24). GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.30 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts expect that GMS Inc. will post 7.95 EPS for the current fiscal year.

Insider Transactions at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company's stock.

GMS Company 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.