Bridges Investment Management Inc. Makes New $550,000 Investment in GMS Inc. (NYSE:GMS)

Bridges Investment Management Inc. acquired a new stake in shares of GMS Inc. (NYSE:GMS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,827 shares of the company’s stock, valued at approximately $550,000.

Several other hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new position in shares of GMS during the second quarter valued at about $121,000. Intech Investment Management LLC acquired a new position in shares of GMS during the second quarter valued at about $535,000. Inspire Investing LLC increased its holdings in shares of GMS by 20.3% during the second quarter. Inspire Investing LLC now owns 4,406 shares of the company’s stock valued at $355,000 after acquiring an additional 742 shares in the last quarter. MQS Management LLC increased its holdings in shares of GMS by 30.2% during the second quarter. MQS Management LLC now owns 5,870 shares of the company’s stock valued at $473,000 after acquiring an additional 1,363 shares in the last quarter. Finally, Kendall Capital Management increased its holdings in shares of GMS by 36.0% during the second quarter. Kendall Capital Management now owns 6,330 shares of the company’s stock valued at $510,000 after acquiring an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Activity

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total transaction of $713,528.00. Following the transaction, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GMS shares. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Stephens cut their price target on shares of GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Truist Financial cut their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Robert W. Baird cut their price target on shares of GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 21st. Finally, DA Davidson cut their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.63.

GMS Trading Down 2.0 %

GMS stock opened at $90.20 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. GMS Inc. has a 12 month low of $56.58 and a 12 month high of $101.04. The stock’s 50 day simple moving average is $89.53 and its two-hundred day simple moving average is $90.74. The firm has a market cap of $3.58 billion, a PE ratio of 13.40 and a beta of 1.68.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $2.40 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. 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.