Allspring Global Investments Holdings LLC Grows Stake in GMS Inc. (NYSE:GMS)

Allspring Global Investments Holdings LLC boosted its holdings in GMS Inc. (NYSE:GMS - Free Report) by 51.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GMS. FMR LLC increased its stake in GMS by 38.7% in the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after acquiring an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC increased its stake in GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock worth $160,285,000 after acquiring an additional 1,085,551 shares during the last quarter. Granite Investment Partners LLC bought a new position in GMS in the 4th quarter worth about $11,913,000. Reinhart Partners LLC. increased its stake in GMS by 17.5% in the 1st quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock worth $46,553,000 after acquiring an additional 94,716 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of GMS by 13.9% in the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company's stock worth $49,212,000 after purchasing an additional 70,927 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the 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 completion of the sale, the chief operating officer owned 23,950 shares in the company, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

GMS Trading Down 0.0%

GMS stock traded down $0.04 during trading on Friday, hitting $109.33. 2,525,941 shares of the company traded hands, compared to its average volume of 551,069. The firm has a market capitalization of $4.16 billion, a PE ratio of 37.83 and a beta of 1.71. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $109.70. The company has a 50-day moving average of $85.52 and a 200-day moving average of $80.58. 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 (NYSE:GMS - Get Free Report) last issued its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.18. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. GMS had a return on equity of 16.97% and a net margin of 2.09%. GMS's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. Analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GMS shares. Barclays upped their price objective on GMS from $95.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Loop Capital upped their price objective on GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, July 1st. Stephens cut GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a report on Friday, June 27th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GMS in a report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GMS has an average rating of "Hold" and an average target price of $101.11.

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.