GMS Inc. (NYSE:GMS) Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC grew its position 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 in the last quarter. Eukles Asset Management acquired a new position in shares of GMS in the 1st quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new position in shares of GMS in the 4th quarter valued at about $34,000. Versant Capital Management Inc increased its stake in GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after buying an additional 445 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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. 95.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GMS

In other news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total value of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares of the company's stock, valued at approximately $383,691,966.20. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction dated 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 directly owned 23,950 shares of the company's stock, valued at $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GMS. DA Davidson lifted their price target on shares of GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Stephens downgraded shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research report on Friday, June 27th. Raymond James Financial lowered shares of GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Truist Financial boosted their price objective on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Finally, Barclays upped their price target on shares of GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.11.

GMS Stock Down 0.1%

Shares of NYSE GMS traded down $0.11 during mid-day trading on Friday, reaching $109.85. 1,107,545 shares of the company were exchanged, compared to its average volume of 583,983. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 38.01 and a beta of 1.71. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $110.28. The firm has a 50-day moving average of $89.12 and a 200 day moving average of $81.44.

GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.11 by $0.18. The firm had revenue of $1.33 billion for 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%. GMS's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. On average, research analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

GMS 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.