The Manufacturers Life Insurance Company Grows Position in GMS Inc. (NYSE:GMS)

The Manufacturers Life Insurance Company grew its stake in GMS Inc. (NYSE:GMS) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,908 shares of the company’s stock after purchasing an additional 1,197 shares during the period. The Manufacturers Life Insurance Company’s holdings in GMS were worth $759,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in shares of GMS by 69.4% in the 3rd quarter. Sei Investments Co. now owns 51,386 shares of the company’s stock valued at $1,251,000 after purchasing an additional 21,044 shares during the last quarter. Prudent Man Advisors LLC bought a new stake in shares of GMS in the 4th quarter valued at approximately $209,000. Credit Suisse AG lifted its stake in shares of GMS by 24.2% in the 4th quarter. Credit Suisse AG now owns 70,973 shares of the company’s stock valued at $2,164,000 after purchasing an additional 13,813 shares during the last quarter. People s United Financial Inc. bought a new stake in shares of GMS in the 4th quarter valued at approximately $205,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of GMS by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 537,780 shares of the company’s stock valued at $12,961,000 after purchasing an additional 55,403 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

In other news, Director Theron I. Gilliam sold 10,000 shares of GMS stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $41.51, for a total value of $415,100.00. Following the transaction, the director now directly owns 8,895 shares in the company, valued at approximately $369,231.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Coliseum Capital Management, L purchased 144,800 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The stock was bought at an average price of $36.82 per share, for a total transaction of $5,331,536.00. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Several equities research analysts have recently issued reports on GMS shares. Barclays raised their price objective on GMS from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, March 5th. Truist raised their price target on GMS from $34.00 to $42.00 in a research note on Friday, March 5th. Finally, Zacks Investment Research raised GMS from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, March 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.00.

Shares of NYSE GMS opened at $41.05 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.32 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $39.39 and a two-hundred day simple moving average of $31.45. The firm has a market cap of $1.76 billion, a PE ratio of 73.30 and a beta of 2.09. GMS Inc. has a twelve month low of $13.23 and a twelve month high of $44.77.

GMS (NYSE:GMS) last issued its earnings results on Wednesday, March 3rd. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.09. The business had revenue of $751.20 million during the quarter, compared to analyst estimates of $728.42 million. GMS had a return on equity of 18.50% and a net margin of 0.80%. GMS’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. On average, research analysts expect that GMS Inc. will post 2.95 earnings per share for the current year.

About GMS

GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The Geographic Divisions segment comprises the Central, Midwest, Northeast, Southern, Southeast, Western, and Canada.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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