Mackenzie Financial Corp Cuts Position in GMS Inc. (NYSE:GMS)

Mackenzie Financial Corp reduced its position in shares of GMS Inc. (NYSE:GMS) by 21.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,387 shares of the company’s stock after selling 1,706 shares during the period. Mackenzie Financial Corp’s holdings in GMS were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. purchased a new position in GMS during the 1st quarter valued at about $68,693,000. American Century Companies Inc. boosted its stake in shares of GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after purchasing an additional 406,406 shares during the period. LSV Asset Management grew its holdings in shares of GMS by 103.0% in the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new stake in GMS during the 2nd quarter worth approximately $24,601,000. Finally, Interval Partners LP acquired a new stake in GMS during the 1st quarter worth approximately $8,761,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada dropped their price target on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research note on Friday, June 21st. DA Davidson cut their price target on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Truist Financial decreased their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Robert W. Baird cut their target price on shares of GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 21st. Finally, Barclays decreased their price target on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.63.

GMS Stock Performance

Shares of GMS stock opened at $90.75 on Friday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 13.48 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52 week low of $56.58 and a 52 week high of $101.04. The firm’s 50 day moving average is $89.22 and its two-hundred day moving average is $90.60.

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

Insider Transactions at GMS

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the completion of the sale, the senior vice president now directly owns 10,671 shares of the company’s stock, valued at $963,804.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

About GMS

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.