Allspring Global Investments Holdings LLC Has $598,000 Stock Position in GMS Inc. (NYSE:GMS)

Allspring Global Investments Holdings LLC increased its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 51.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,116 shares of the company's stock after acquiring an additional 2,753 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in GMS were worth $598,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GMS. Janney Montgomery Scott LLC boosted its stake in shares of GMS by 2.8% in the first quarter. Janney Montgomery Scott LLC now owns 26,677 shares of the company's stock valued at $1,952,000 after buying an additional 734 shares during the period. SummerHaven Investment Management LLC lifted its position in GMS by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company's stock worth $715,000 after purchasing an additional 171 shares during the period. SG Americas Securities LLC bought a new position in GMS in the 1st quarter valued at about $442,000. GAMMA Investing LLC increased its stake in GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after acquiring an additional 222 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 95.28% of the company's stock.

GMS Stock Up 0.1%

Shares of NYSE GMS opened at $109.42 on Thursday. The company's 50 day moving average price is $84.12 and its 200-day moving average price is $80.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $109.70. The company has a market capitalization of $4.16 billion, a P/E ratio of 37.86 and a beta of 1.71.

GMS (NYSE:GMS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.93 EPS. The firm's revenue was down 5.6% compared to the same quarter last year. Equities analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays raised their price objective on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Truist Financial increased their price target on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird reaffirmed a "neutral" rating and issued a $95.00 target price (up previously from $93.00) on shares of GMS in a report on Monday, June 23rd. DA Davidson upped their price objective on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada boosted their target price on shares of GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 1st. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $101.11.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the sale, the chief operating officer owned 23,950 shares in the company, valued at $2,592,108.50. The trade was a 17.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.90% of the company's stock.

GMS Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.