Mackenzie Financial Corp Acquires 542 Shares of GMS Inc. (NYSE:GMS)

Mackenzie Financial Corp increased its holdings in shares of GMS Inc. (NYSE:GMS) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,835 shares of the company’s stock after buying an additional 542 shares during the quarter. Mackenzie Financial Corp’s holdings in GMS were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GMS. Simplicity Solutions LLC bought a new stake in GMS during the third quarter worth $534,000. Cambridge Investment Research Advisors Inc. lifted its holdings in GMS by 5.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock worth $300,000 after acquiring an additional 232 shares during the period. Raymond James & Associates lifted its holdings in GMS by 23.8% during the third quarter. Raymond James & Associates now owns 36,263 shares of the company’s stock worth $2,320,000 after acquiring an additional 6,964 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of GMS in the third quarter valued at $234,000. Finally, Reinhart Partners LLC. raised its stake in shares of GMS by 3.7% in the third quarter. Reinhart Partners LLC. now owns 426,363 shares of the company’s stock valued at $27,274,000 after buying an additional 15,126 shares during the period. 95.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the transaction, the chief executive officer now directly owns 48,074 shares in the company, valued at $4,691,060.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the transaction, the chief executive officer now directly owns 48,074 shares in the company, valued at $4,691,060.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO George T. Hendren sold 10,554 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the transaction, the chief operating officer now owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The disclosure for this sale can be found here. Insiders sold a total of 36,820 shares of company stock worth $3,561,192 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

GMS Stock Performance

NYSE:GMS opened at $92.85 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. GMS Inc. has a 52-week low of $54.59 and a 52-week high of $101.04. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 13.00 and a beta of 1.73. The business’s fifty day moving average is $93.18 and its 200 day moving average is $80.07.

GMS (NYSE:GMS) last posted its earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). GMS had a return on equity of 25.65% and a net margin of 5.48%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. GMS’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that GMS Inc. will post 8.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GMS. Royal Bank of Canada boosted their target price on GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. StockNews.com upgraded GMS from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Truist Financial boosted their target price on GMS from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Robert W. Baird boosted their target price on GMS from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Stephens boosted their target price on GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.63.

GMS 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.