Renaissance Technologies LLC Has $10.88 Million Holdings in GMS Inc. (NYSE:GMS)

Renaissance Technologies LLC increased its stake in shares of GMS Inc. (NYSE:GMS) by 95.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,000 shares of the company’s stock after purchasing an additional 65,900 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of GMS worth $10,882,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GMS. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GMS during the fourth quarter worth $295,000. US Bancorp DE grew its stake in shares of GMS by 2,157.9% during the fourth quarter. US Bancorp DE now owns 10,883 shares of the company’s stock worth $897,000 after purchasing an additional 10,401 shares during the period. Hsbc Holdings PLC grew its stake in GMS by 3.0% in the fourth quarter. Hsbc Holdings PLC now owns 12,691 shares of the company’s stock valued at $1,053,000 after acquiring an additional 368 shares during the period. TD Asset Management Inc grew its stake in GMS by 34.2% in the fourth quarter. TD Asset Management Inc now owns 40,000 shares of the company’s stock valued at $3,297,000 after acquiring an additional 10,200 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in GMS by 116.5% in the fourth quarter. Allianz Asset Management GmbH now owns 24,732 shares of the company’s stock valued at $2,039,000 after acquiring an additional 13,306 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GMS shares. Stephens decreased their target price on GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Barclays reduced their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Royal Bank of Canada reduced their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research report on Friday, June 21st. Loop Capital reduced their price objective on GMS from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Friday, June 21st. Finally, Robert W. Baird reduced their price objective on GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.63.

Insider Transactions at GMS

In related 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 sale, the senior vice president now owns 10,671 shares of the company’s stock, valued at $963,804.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by corporate insiders.

GMS Stock Performance

GMS opened at $91.09 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The business’s 50-day simple moving average is $89.60 and its 200 day simple moving average is $90.75. The firm has a market capitalization of $3.61 billion, a PE ratio of 13.53 and a beta of 1.67. GMS Inc. has a 52-week low of $56.58 and a 52-week high of $101.04.

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