Kendall Capital Management Has $510,000 Position in GMS Inc. (NYSE:GMS)

Kendall Capital Management increased its position in GMS Inc. (NYSE:GMS) by 36.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,330 shares of the company’s stock after buying an additional 1,675 shares during the quarter. Kendall Capital Management’s holdings in GMS were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GMS. Janney Montgomery Scott LLC increased its stake in shares of GMS by 248.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,756 shares of the company’s stock valued at $2,041,000 after buying an additional 17,658 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in GMS during the 4th quarter valued at approximately $295,000. US Bancorp DE increased its position in GMS by 2,157.9% during the 4th quarter. US Bancorp DE now owns 10,883 shares of the company’s stock valued at $897,000 after purchasing an additional 10,401 shares during the period. Hsbc Holdings PLC increased its position in GMS by 3.0% during the 4th quarter. Hsbc Holdings PLC now owns 12,691 shares of the company’s stock valued at $1,053,000 after purchasing an additional 368 shares during the period. Finally, TD Asset Management Inc increased its position in GMS by 34.2% during the 4th quarter. TD Asset Management Inc now owns 40,000 shares of the company’s stock valued at $3,297,000 after purchasing an additional 10,200 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the transaction, the senior vice president now directly owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

GMS Stock Performance

Shares of GMS stock opened at $92.01 on Friday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 13.67 and a beta of 1.68. GMS Inc. has a 52 week low of $56.58 and a 52 week high of $101.04. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $89.48 and a 200-day moving average of $90.72.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) 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 firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. GMS’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts forecast that GMS Inc. will post 7.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GMS. Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Stephens decreased their target price on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. DA Davidson decreased their target price on shares of GMS from $105.00 to $97.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, GMS has an average rating of “Hold” and an average target price of $89.63.

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.