Massachusetts Financial Services Co. MA Grows Stock Holdings in GMS Inc. (NYSE:GMS)

Massachusetts Financial Services Co. MA boosted its holdings in GMS Inc. (NYSE:GMS) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,882 shares of the company’s stock after buying an additional 1,534 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GMS were worth $9,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of GMS by 28.5% during the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after buying an additional 406,406 shares during the last quarter. LSV Asset Management boosted its stake in GMS by 103.0% in the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after acquiring an additional 350,478 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of GMS during the second quarter worth about $24,601,000. Edgestream Partners L.P. purchased a new stake in shares of GMS in the 2nd quarter valued at about $5,402,000. Finally, Renaissance Technologies LLC boosted its position in shares of GMS by 95.4% in the 2nd quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock valued at $10,882,000 after purchasing an additional 65,900 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Price Performance

Shares of NYSE:GMS opened at $100.48 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $93.90 and a 200 day moving average price of $90.62. GMS Inc. has a 52 week low of $65.46 and a 52 week high of $105.54. The company has a market cap of $3.95 billion, a P/E ratio of 16.58 and a beta of 1.68.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GMS. DA Davidson cut GMS from a “buy” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research note on Tuesday. Truist Financial dropped their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Robert W. Baird raised their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Loop Capital increased their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, GMS has a consensus rating of “Hold” and a consensus target price of $92.50.

Insider Buying and Selling at GMS

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate 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.