Lazard Asset Management LLC Raises Holdings in GMS Inc. (NYSE:GMS)

Lazard Asset Management LLC lifted its stake in GMS Inc. (NYSE:GMSGet Rating) by 129.6% during the second quarter, Holdings Channel reports. The institutional investor owned 4,986 shares of the company’s stock after acquiring an additional 2,814 shares during the quarter. Lazard Asset Management LLC’s holdings in GMS were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GMS. Captrust Financial Advisors boosted its stake in shares of GMS by 98.1% in the first quarter. Captrust Financial Advisors now owns 2,322 shares of the company’s stock worth $116,000 after buying an additional 1,150 shares during the last quarter. KBC Group NV purchased a new position in GMS during the second quarter worth approximately $165,000. Delphia USA Inc. purchased a new position in GMS during the first quarter worth approximately $220,000. Profund Advisors LLC boosted its position in GMS by 6.8% during the first quarter. Profund Advisors LLC now owns 4,626 shares of the company’s stock worth $230,000 after purchasing an additional 294 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in GMS by 66.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,781 shares of the company’s stock worth $238,000 after purchasing an additional 1,902 shares in the last quarter. Hedge funds and other institutional investors own 98.94% of the company’s stock.

GMS Stock Performance

NYSE GMS opened at $49.67 on Monday. The company has a market cap of $2.11 billion, a PE ratio of 7.19 and a beta of 1.87. The stock’s 50 day simple moving average is $44.39 and its 200-day simple moving average is $46.86. GMS Inc. has a 1-year low of $36.10 and a 1-year high of $61.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.30 and a quick ratio of 1.43.

GMS (NYSE:GMSGet Rating) last released its earnings results on Thursday, September 1st. The company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.16. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. GMS had a return on equity of 34.71% and a net margin of 6.09%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. As a group, equities research analysts anticipate that GMS Inc. will post 8.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial downgraded GMS from a “buy” rating to a “hold” rating and lowered their price target for the stock from $50.00 to $46.00 in a research report on Wednesday, September 7th. Robert W. Baird lowered their price target on GMS to $56.00 in a research report on Thursday, October 20th. Finally, StockNews.com downgraded GMS from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.83.

Insider Activity at GMS

In related news, VP Craig D. Apolinsky sold 6,324 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $39.07, for a total value of $247,078.68. Following the completion of the sale, the vice president now owns 9,870 shares of the company’s stock, valued at $385,620.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Coliseum Capital Management, L purchased 205,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average price of $40.19 per share, with a total value of $8,238,950.00. Following the completion of the acquisition, the insider now owns 6,336,573 shares in the company, valued at $254,666,868.87. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Craig D. Apolinsky sold 6,324 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $39.07, for a total value of $247,078.68. Following the sale, the vice president now directly owns 9,870 shares of the company’s stock, valued at approximately $385,620.90. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

GMS Profile

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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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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