Koch Industries Inc. Invests $324,000 in GMS Inc. (GMS)

Koch Industries Inc. bought a new position in shares of GMS Inc. (NYSE:GMS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 335,319 shares of the company’s stock, valued at approximately $324,000. Koch Industries Inc. owned approximately 0.82% of GMS at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Verition Fund Management LLC bought a new stake in shares of GMS during the second quarter worth about $412,000. California State Teachers Retirement System increased its position in shares of GMS by 197.6% during the second quarter. California State Teachers Retirement System now owns 41,717 shares of the company’s stock worth $1,172,000 after acquiring an additional 27,700 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GMS by 1,659.1% during the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after acquiring an additional 780,368 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of GMS by 5,613.6% during the second quarter. Cubist Systematic Strategies LLC now owns 25,711 shares of the company’s stock worth $722,000 after acquiring an additional 25,261 shares in the last quarter. Finally, State Street Corp increased its position in shares of GMS by 220.3% during the second quarter. State Street Corp now owns 397,752 shares of the company’s stock worth $11,179,000 after acquiring an additional 273,558 shares in the last quarter. 55.51% of the stock is owned by institutional investors.

Shares of GMS Inc. (GMS) traded down 0.60% during midday trading on Wednesday, reaching $34.88. 186,325 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $34.76 and a 200-day moving average of $34.76. The stock has a market capitalization of $1.43 billion, a P/E ratio of 26.71 and a beta of 3.40. GMS Inc. has a 12-month low of $20.51 and a 12-month high of $36.99.

GMS (NYSE:GMS) last released its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. GMS’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Analysts anticipate that GMS Inc. will post $2.01 EPS for the current fiscal year.

GMS has been the subject of several recent research reports. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, July 3rd. Stephens reduced their price objective on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. Zacks Investment Research downgraded shares of GMS from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Royal Bank Of Canada upped their price objective on shares of GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $37.00 price objective on shares of GMS in a research report on Monday, October 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $36.83.

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In other news, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $34.73, for a total transaction of $434,125.00. Following the completion of the sale, the chief executive officer now owns 528,418 shares

Several other large investors have also bought and sold shares of the company. Verition Fund Management LLC bought a new stake in shares of GMS during the second quarter worth about $412,000. California State Teachers Retirement System increased its position in shares of GMS by 197.6% during the second quarter. California State Teachers Retirement System now owns 41,717 shares of the company’s stock worth $1,172,000 after acquiring an additional 27,700 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GMS by 1,659.1% during the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after acquiring an additional 780,368 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of GMS by 5,613.6% during the second quarter. Cubist Systematic Strategies LLC now owns 25,711 shares of the company’s stock worth $722,000 after acquiring an additional 25,261 shares in the last quarter. Finally, State Street Corp increased its position in shares of GMS by 220.3% during the second quarter. State Street Corp now owns 397,752 shares of the company’s stock worth $11,179,000 after acquiring an additional 273,558 shares in the last quarter. 55.51% of the stock is owned by institutional investors.

Shares of GMS Inc. (GMS) traded down 0.60% during midday trading on Wednesday, reaching $34.88. 186,325 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $34.76 and a 200-day moving average of $34.76. The stock has a market capitalization of $1.43 billion, a P/E ratio of 26.71 and a beta of 3.40. GMS Inc. has a 12-month low of $20.51 and a 12-month high of $36.99.

GMS (NYSE:GMS) last released its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. GMS’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Analysts anticipate that GMS Inc. will post $2.01 EPS for the current fiscal year.

GMS has been the subject of several recent research reports. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, July 3rd. Stephens reduced their price objective on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. Zacks Investment Research downgraded shares of GMS from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Royal Bank Of Canada upped their price objective on shares of GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $37.00 price objective on shares of GMS in a research report on Monday, October 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $36.83.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/18/koch-industries-inc-invests-324000-in-gms-inc-gms.html.

In other news, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $34.73, for a total transaction of $434,125.00. Following the completion of the sale, the chief executive officer now owns 528,418 shares of the company’s stock, valued at $18,351,957.14. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

GMS Company Profile

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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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