Allspring Global Investments Holdings LLC Boosts Stock Holdings in GMS Inc. (NYSE:GMS)

Allspring Global Investments Holdings LLC grew its position in GMS Inc. (NYSE:GMS - Free Report) by 51.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other hedge funds have also modified their holdings of the stock. AlphaQuest LLC grew its stake in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after purchasing an additional 325 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of GMS in the fourth quarter valued at approximately $34,000. Versant Capital Management Inc grew its position in shares of GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after purchasing an additional 445 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 222 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of GMS in the fourth quarter valued at approximately $193,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

GMS Stock Down 0.0%

GMS traded down $0.01 during midday trading on Friday, reaching $109.36. 1,413,619 shares of the company were exchanged, compared to its average volume of 547,058. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. The company's fifty day moving average price is $84.84 and its 200 day moving average price is $80.47. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 37.84 and a beta of 1.71. GMS Inc. has a one year low of $65.77 and a one year high of $109.70.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.18. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. As a group, analysts expect that GMS Inc. will post 7.26 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stephens cut GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research note on Friday, June 27th. Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Royal Bank Of Canada increased their price target on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 1st. Finally, Loop Capital increased their price target on GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, GMS presently has an average rating of "Hold" and an average target price of $101.11.

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.