JPMorgan Chase & Co. Increases Position in GMS Inc. (NYSE:GMS)

JPMorgan Chase & Co. boosted its position in shares of GMS Inc. (NYSE:GMS) by 415.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,811 shares of the company’s stock after buying an additional 36,124 shares during the period. JPMorgan Chase & Co. owned about 0.11% of GMS worth $1,570,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Emerald Advisers Inc. PA boosted its stake in shares of GMS by 7.8% in the first quarter. Emerald Advisers Inc. PA now owns 704,465 shares of the company’s stock worth $24,684,000 after buying an additional 50,683 shares in the last quarter. Wells Fargo & Company MN boosted its stake in GMS by 13,592.0% in the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock valued at $23,476,000 after buying an additional 665,057 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in GMS by 3.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 532,113 shares of the company’s stock valued at $18,645,000 after buying an additional 15,870 shares during the period. Rubric Capital Management LP boosted its stake in GMS by 101.8% in the first quarter. Rubric Capital Management LP now owns 500,000 shares of the company’s stock valued at $17,520,000 after buying an additional 252,220 shares during the period. Finally, State Street Corp boosted its stake in GMS by 9.6% in the fourth quarter. State Street Corp now owns 123,409 shares of the company’s stock valued at $3,611,000 after buying an additional 10,847 shares during the period. Institutional investors own 41.13% of the company’s stock.

Shares of GMS Inc. (NYSE:GMS) opened at 30.30 on Thursday. The stock’s 50 day moving average price is $30.77 and its 200 day moving average price is $31.95. GMS Inc. has a 1-year low of $20.23 and a 1-year high of $36.99. The stock has a market cap of $1.24 billion, a PE ratio of 25.46 and a beta of 3.49.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. GMS had a return on equity of 14.15% and a net margin of 2.11%. The business had revenue of $615 million during the quarter, compared to analyst estimates of $614.93 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that GMS Inc. will post $1.99 EPS for the current fiscal year.

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Several equities research analysts have recently commented on the company. Royal Bank Of Canada restated a “buy” rating and set a $38.00 price target on shares of GMS in a research note on Monday, June 19th. Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, July 3rd. Zacks Investment Research cut GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens cut their price target on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Finally, ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.17.

In related news, SVP Richard Alan Adams sold 83,950 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the completion of the transaction, the senior vice president now owns 170,000 shares in the company, valued at approximately $5,385,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard K. Mueller sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $31,680,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,986,079 shares of company stock valued at $126,278,983 in the last 90 days.

About GMS

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.