Bank of New York Mellon Corp Decreases Holdings in GMS Inc. (NYSE:GMS)

Bank of New York Mellon Corp lessened its stake in GMS Inc. (NYSE:GMS - Free Report) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 258,774 shares of the company's stock after selling 18,403 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of GMS worth $18,934,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. AlphaQuest LLC grew its position in shares of GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after purchasing an additional 325 shares in the last quarter. Eukles Asset Management purchased a new position in GMS in the first quarter worth $33,000. Canada Pension Plan Investment Board purchased a new position in GMS in the fourth quarter worth $34,000. Versant Capital Management Inc grew its position in GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after acquiring an additional 445 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company's stock worth $59,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 95.28% of the company's stock.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the transaction, the chief operating officer owned 23,950 shares in the company, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the sale, the insider owned 3,486,524 shares in the company, valued at $383,691,966.20. The trade was a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock valued at $37,808,097 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

GMS Price Performance

GMS traded up $0.01 during trading on Tuesday, hitting $109.67. 1,345,047 shares of the company traded hands, compared to its average volume of 591,036. The company has a market cap of $4.17 billion, a PE ratio of 37.95 and a beta of 1.71. The stock's 50-day simple moving average is $89.77 and its two-hundred day simple moving average is $81.60. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $110.28. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85.

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. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same period last year, the company posted $1.93 EPS. The business's revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

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.