Brandywine Global Investment Management LLC Decreases Holdings in GMS Inc. (NYSE:GMS)

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in GMS Inc. by 3.8%, now owning approximately 0.25% of the company, valued at about $6.99 million.
• GMS reported a net margin of 2.09% and earnings per share of $1.29 for the last quarter, surpassing analysts' expectations while showing a 5.6% year-over-year revenue decline.
• Several hedge funds have increased their holdings in GMS, with Allspring Global Investments raising its stake by 51.3% during the same period.

Brandywine Global Investment Management LLC cut its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,555 shares of the company's stock after selling 3,810 shares during the period. Brandywine Global Investment Management LLC owned about 0.25% of GMS worth $6,992,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in GMS by 51.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,116 shares of the company's stock valued at $598,000 after buying an additional 2,753 shares during the last quarter. Principal Financial Group Inc. raised its stake in GMS by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 224,048 shares of the company's stock valued at $16,394,000 after buying an additional 3,799 shares during the last quarter. SG Americas Securities LLC purchased a new stake in GMS during the 1st quarter valued at $442,000. Yousif Capital Management LLC raised its stake in GMS by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after buying an additional 147 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of GMS by 38.3% in the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock worth $59,000 after purchasing an additional 222 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

GMS Stock Down 0.2%

GMS opened at $109.41 on Friday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 37.86 and a beta of 1.76. The company has a fifty day moving average of $102.63 and a two-hundred day moving average of $85.09. 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 fifty-two week low of $65.77 and a fifty-two week high of $110.28.

GMS (NYSE:GMS - Get Free Report) last released its earnings results 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 quarter in the previous year, the company earned $1.93 earnings per share. The company's quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

Insider Activity

In other GMS news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.05, for a total value of $19,713,586.65. Following the transaction, the insider directly owned 3,646,018 shares in the company, valued at $401,244,280.90. The trade was a 4.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO George T. Hendren sold 5,000 shares of the company'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 transaction of $541,150.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,627 shares of company stock worth $37,808,097 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Baird R W lowered GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Barclays raised their price objective on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Raymond James Financial downgraded shares of GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Truist Financial raised their price objective on shares of GMS from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Finally, Loop Capital raised their target price on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 1st. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GMS currently has an average rating of "Hold" and a consensus price target of $101.11.

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.

Want to see what other hedge funds are holding GMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GMS Inc. (NYSE:GMS - Free Report).

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.