First Trust Advisors LP Reduces Position in GMS Inc (NYSE:GMS)

First Trust Advisors LP trimmed its stake in GMS Inc (NYSE:GMS) by 24.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,930 shares of the company’s stock after selling 18,815 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of GMS worth $1,569,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in GMS by 67.8% in the first quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock valued at $176,000 after purchasing an additional 2,322 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of GMS during the 1st quarter worth approximately $233,000. Victory Capital Management Inc. boosted its stake in shares of GMS by 54.2% during the 1st quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock worth $266,000 after acquiring an additional 3,055 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of GMS by 79.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,764 shares of the company’s stock worth $298,000 after acquiring an additional 4,313 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of GMS during the 1st quarter worth approximately $353,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

In related news, VP Richard Alan Adams purchased 3,000 shares of GMS stock in a transaction on Wednesday, September 5th. The shares were purchased at an average price of $24.14 per share, for a total transaction of $72,420.00. Following the transaction, the vice president now owns 175,000 shares of the company’s stock, valued at approximately $4,224,500. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lynn Ross purchased 2,061 shares of GMS stock in a transaction on Tuesday, September 4th. The stock was bought at an average price of $24.26 per share, for a total transaction of $49,999.86. Following the transaction, the insider now directly owns 2,061 shares in the company, valued at approximately $49,999.86. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,211 shares of company stock worth $222,559 in the last 90 days. 4.90% of the stock is currently owned by corporate insiders.

NYSE GMS traded down $0.05 during midday trading on Friday, hitting $21.31. The company had a trading volume of 683,279 shares, compared to its average volume of 415,956. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 1.93. GMS Inc has a twelve month low of $20.76 and a twelve month high of $39.98. The stock has a market capitalization of $954.42 million, a PE ratio of 10.60, a P/E/G ratio of 1.01 and a beta of 1.26.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, August 30th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. GMS had a return on equity of 15.18% and a net margin of 2.13%. The company had revenue of $778.10 million during the quarter, compared to analysts’ expectations of $768.61 million. During the same quarter in the previous year, the firm earned $0.47 EPS. GMS’s revenue was up 21.2% on a year-over-year basis. On average, equities analysts expect that GMS Inc will post 3.28 EPS for the current year.

Several research analysts have recently commented on GMS shares. Raymond James lifted their target price on GMS from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Nomura lifted their target price on GMS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Royal Bank of Canada set a $36.00 price target on GMS and gave the company a “buy” rating in a research note on Friday, June 29th. TheStreet downgraded GMS from a “b-” rating to a “c” rating in a research note on Thursday, June 28th. Finally, Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. GMS has an average rating of “Buy” and an average price target of $36.55.

About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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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