Stock of the Day - July 6, 2021

GMS (GMS)

$109.96

-$0.02 (-0.0%)

Market Cap: $4.20B

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.

It also provides steel framing products, such as steel tracks, studs, and various other steel products used to frame the interior walls of a commercial or institutional building, as well as ancillary products comprising tools, fasteners, insulation, EIFS and stucco, lumber and other wood products, ready-mix joint compound, and safety products. In addition, the company distributes a wallboard, ceilings, steel framing, and construction products, as well as commercial and residential building materials. It also operates through tool sales, rental, and service centers, as well as network of distribution centers. The company serves professional contractors and homebuilders. GMS Inc. was founded in 1971 and is headquartered in Tucker, Georgia.

Today's Trend

Shares of GMS Inc. (NYSE: GMS) are trading slightly lower near their 52-week high as investors digest the completion of its takeover by Home Depot and the company’s impending exit from key indexes. Key developments from the last 24–36 hours:

Home Depot completes acquisition of GMS Inc. in a $5.5 billion deal, taking the building-materials distributor private at $111 per share. Home Depot completes GMS acquisition for $5.5bn
Mirion Technologies will replace GMS Inc. in the S&P SmallCap 600 index at the open on September 9, removing a source of passive demand for GMS shares. Mirion to replace GMS Inc. in S&P 600 at open on 9/9
Article on Buccaneers’ GM Jason Licht highlights best practices for NFL contract extensions—unrelated to GMS Inc.’s business. Buccaneers’ Jason Licht showing other GMs how to get extensions done early
Ray Evernham sells SRX Racing assets to GMS Race Cars, a motorsports outfit unrelated to the building-materials distributor. Ray Evernham sells SRX Racing assets to GMS Race Cars
GMS Race Cars acquires SRX assets according to Racer.com—another motorsports transaction not tied to GMS Inc.’s core operations. GMS Race Cars acquires SRX assets

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