Zimmer Partners LP Purchases 25,050 Shares of GMS Inc. $GMS

Key Points

• Zimmer Partners LP increased its position in GMS Inc. by 33.4%, acquiring an additional 25,050 shares to total 100,050 shares, valued at approximately $7.32 million.
• GMS Inc. reported a quarterly EPS of $1.76, slightly missing analysts' expectations, despite generating revenues of $1.41 billion.
• Shares of GMS opened at $109.96 with a market cap of $4.20 billion, and analysts currently have a consensus hold rating with a target price averaging $101.11.

Zimmer Partners LP boosted its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 33.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,050 shares of the company's stock after acquiring an additional 25,050 shares during the quarter. Zimmer Partners LP owned about 0.26% of GMS worth $7,321,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GMS. Coliseum Capital Management LLC increased its stake in GMS by 81.9% during the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company's stock worth $251,521,000 after acquiring an additional 1,547,999 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in GMS by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock worth $68,287,000 after acquiring an additional 212,128 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in GMS by 105.3% during the first quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company's stock worth $27,346,000 after acquiring an additional 191,737 shares during the last quarter. American Century Companies Inc. increased its stake in GMS by 12.9% during the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock worth $121,476,000 after acquiring an additional 189,760 shares during the last quarter. Finally, Nuveen LLC bought a new stake in GMS during the first quarter worth approximately $7,813,000. 95.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GMS. Royal Bank Of Canada upped their target price on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 1st. Loop Capital upped their target price on GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. DA Davidson upped their target price on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Finally, Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $101.11.

GMS Stock Down 0.0%

Shares of GMS traded down $0.02 during midday trading on Friday, reaching $109.96. 710,652 shares of the stock were exchanged, compared to its average volume of 780,710. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $110.28. The company has a current ratio of 2.11, a quick ratio of 1.31 and a debt-to-equity ratio of 0.87. The company's 50 day moving average is $109.71 and its two-hundred day moving average is $88.93. The company has a market capitalization of $4.20 billion, a P/E ratio of 42.29 and a beta of 1.76.

GMS (NYSE:GMS - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.01). GMS had a net margin of 1.86% and a return on equity of 16.36%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The business's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the business'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 value of $541,150.00. Following the completion of the transaction, the chief operating officer owned 23,950 shares of the company's stock, valued at $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total value of $6,046,587.20. Following the sale, the insider 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 position. The disclosure for this sale can be found here. Insiders sold a total of 343,627 shares of company stock valued at $37,808,097 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

About GMS

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.