Vanguard Group Inc. Buys 339,051 Shares of GMS Inc. (GMS)

Vanguard Group Inc. increased its stake in shares of GMS Inc. (NYSE:GMS) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,312,282 shares of the company’s stock after purchasing an additional 339,051 shares during the quarter. Vanguard Group Inc. owned 5.64% of GMS worth $64,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American International Group Inc. lifted its holdings in shares of GMS by 7.0% during the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after purchasing an additional 288 shares during the period. Bank of America Corp DE lifted its holdings in shares of GMS by 0.3% during the first quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock worth $5,651,000 after purchasing an additional 489 shares during the period. Sei Investments Co. lifted its holdings in shares of GMS by 7.1% during the second quarter. Sei Investments Co. now owns 15,073 shares of the company’s stock worth $424,000 after purchasing an additional 1,005 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of GMS by 0.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 376,000 shares of the company’s stock worth $10,565,000 after purchasing an additional 1,325 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of GMS by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 29,614 shares of the company’s stock worth $1,038,000 after purchasing an additional 2,436 shares during the period. 56.11% of the stock is owned by hedge funds and other institutional investors.

In other GMS news, insider Lynn Ross sold 1,894 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $34.77, for a total transaction of $65,854.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the transaction, the chief executive officer now owns 528,418 shares of the company’s stock, valued at approximately $18,351,957.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,894 shares of company stock valued at $931,479. 5.90% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised GMS from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday. Wells Fargo & Company assumed coverage on GMS in a report on Wednesday, October 18th. They set a “market perform” rating and a $38.00 price target for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $39.00 price target on shares of GMS in a report on Tuesday, October 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $37.00 price target on shares of GMS in a report on Monday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $37.00.

GMS (NYSE:GMS) last issued its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The firm had revenue of $642.20 million during the quarter, compared to the consensus estimate of $645.19 million. GMS had a return on equity of 14.13% and a net margin of 2.28%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS.

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GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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