MQS Management LLC Has $473,000 Stock Holdings in GMS Inc. (NYSE:GMS)

MQS Management LLC grew its stake in shares of GMS Inc. (NYSE:GMS) by 30.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,870 shares of the company’s stock after purchasing an additional 1,363 shares during the period. MQS Management LLC’s holdings in GMS were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GMS. BNP Paribas Financial Markets increased its position in GMS by 98.7% in the 1st quarter. BNP Paribas Financial Markets now owns 53,373 shares of the company’s stock valued at $5,195,000 after buying an additional 26,518 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of GMS during the first quarter valued at approximately $814,000. Comerica Bank raised its position in shares of GMS by 157.0% during the first quarter. Comerica Bank now owns 48,284 shares of the company’s stock worth $4,700,000 after purchasing an additional 29,495 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of GMS by 116.5% in the 4th quarter. Allianz Asset Management GmbH now owns 24,732 shares of the company’s stock worth $2,039,000 after purchasing an additional 13,306 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in GMS by 56.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock valued at $5,060,000 after purchasing an additional 18,799 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Stock Up 1.5 %

GMS stock opened at $92.01 on Friday. The stock has a market cap of $3.65 billion, a P/E ratio of 13.67 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 stock’s fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $90.72. GMS Inc. has a 1-year low of $56.58 and a 1-year high of $101.04.

GMS (NYSE:GMS) last issued its quarterly earnings results 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). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.40 earnings per share. Analysts expect that GMS Inc. will post 7.95 EPS for the current year.

Wall Street Analysts Forecast Growth

GMS has been the topic of several research reports. DA Davidson lowered their price objective 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. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Royal Bank of Canada cut their price target on GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research note on Friday, June 21st. Truist Financial decreased their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Finally, Loop Capital dropped their target price on GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $89.63.

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total transaction of $713,528.00. Following the completion of the transaction, the senior vice president now directly owns 10,671 shares of the company’s stock, valued at approximately $963,804.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.