Edgestream Partners L.P. Grows Position in GMS Inc. (NYSE:GMS)

Edgestream Partners L.P. increased its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 166.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,145 shares of the company's stock after purchasing an additional 50,049 shares during the quarter. Edgestream Partners L.P. owned 0.21% of GMS worth $5,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMS. Raymond James Financial Inc. acquired a new stake in shares of GMS during the fourth quarter worth about $1,547,000. PNC Financial Services Group Inc. lifted its holdings in shares of GMS by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,936 shares of the company's stock worth $249,000 after purchasing an additional 211 shares during the period. AlphaQuest LLC lifted its holdings in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after purchasing an additional 325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of GMS by 19.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,914 shares of the company's stock worth $926,000 after purchasing an additional 1,811 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of GMS during the fourth quarter worth about $313,000. Institutional investors and hedge funds own 95.28% of the company's stock.

GMS Price Performance

Shares of GMS stock traded up $0.04 on Wednesday, reaching $110.04. The company's stock had a trading volume of 2,106,921 shares, compared to its average volume of 574,290. The company has a market capitalization of $4.19 billion, a P/E ratio of 38.08 and a beta of 1.71. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $110.28. The stock has a 50-day moving average price of $87.74 and a 200-day moving average price of $81.12. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.18. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. GMS had a return on equity of 16.97% and a net margin of 2.09%. The business's revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. Analysts expect that GMS Inc. will post 7.26 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GMS. DA Davidson boosted their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Royal Bank Of Canada boosted their price target on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, July 1st. Baird R W downgraded GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Barclays boosted their price target on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird reissued a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GMS in a report on Monday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $101.11.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the transaction, the chief operating officer directly owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total value of $6,046,587.20. Following the completion of the transaction, the insider directly owned 3,486,524 shares of the company's stock, valued at approximately $383,691,966.20. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock valued at $37,808,097 over the last quarter. 1.90% of the stock is owned by company insiders.

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.