GMS Inc. (NYSE:GMS) Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management increased its holdings in GMS Inc. by 4.9% in the first quarter, now owning approximately 1.74% of the company valued at $48.9 million.
• Other institutional investors, like FMR LLC and Coliseum Capital Management LLC, have also significantly increased their stakes in GMS, highlighting strong institutional confidence in the company.
• GMS Inc. reported earnings of $1.29 per share, exceeding analyst expectations, although its revenue declined by 5.6% compared to the same period last year.

LSV Asset Management boosted its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,420 shares of the company's stock after acquiring an additional 31,200 shares during the period. LSV Asset Management owned about 1.74% of GMS worth $48,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GMS. FMR LLC grew its holdings in GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after acquiring an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC lifted its position in shares of GMS by 135.0% during the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock valued at $160,285,000 after buying an additional 1,085,551 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of GMS during the fourth quarter valued at about $11,913,000. Reinhart Partners LLC. lifted its position in shares of GMS by 17.5% during the first quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock valued at $46,553,000 after buying an additional 94,716 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in GMS by 13.9% in the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company's stock worth $49,212,000 after purchasing an additional 70,927 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research report on Friday, June 27th. Truist Financial lifted their target price on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Barclays lifted their price target on shares of GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Loop Capital lifted their price target on shares of GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Finally, Robert W. Baird reissued a "neutral" rating and issued a $95.00 price target (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $101.11.

Insider Transactions at GMS

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

GMS Trading Up 0.1%

NYSE GMS traded up $0.13 during trading hours on Thursday, reaching $109.63. The company had a trading volume of 125,129 shares, compared to its average volume of 779,130. The stock has a 50-day moving average of $98.03 and a 200 day moving average of $83.89. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $110.28. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.17 billion, a P/E ratio of 37.93 and a beta of 1.76.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.18. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. As a group, research analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

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.