Meritage Portfolio Management Increases Stock Holdings in GMS Inc. (NYSE:GMS)

Meritage Portfolio Management raised its holdings in shares of GMS Inc. (NYSE:GMS) by 11.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,747 shares of the company’s stock after acquiring an additional 490 shares during the period. Meritage Portfolio Management’s holdings in GMS were worth $430,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after buying an additional 171 shares in the last quarter. Quarry LP lifted its stake in GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC increased its position in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of GMS during the 1st quarter valued at about $77,000. Finally, LRI Investments LLC bought a new stake in GMS in the 1st quarter worth approximately $127,000. 95.28% of the stock is currently owned by institutional investors.

GMS Stock Performance

Shares of NYSE GMS opened at $103.21 on Tuesday. GMS Inc. has a 52-week low of $62.58 and a 52-week high of $103.43. 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 firm’s 50-day moving average price is $90.64 and its 200-day moving average price is $90.18. The company has a market cap of $4.05 billion, a PE ratio of 17.03 and a beta of 1.68.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts anticipate that GMS Inc. will post 7.95 EPS for the current year.

Analyst Ratings Changes

GMS has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Robert W. Baird boosted their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Barclays dropped their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.50.

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.