New York State Common Retirement Fund Has $1.54 Million Holdings in GMS Inc. (NYSE:GMS)

New York State Common Retirement Fund trimmed its holdings in GMS Inc. (NYSE:GMS - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,060 shares of the company's stock after selling 4,993 shares during the period. New York State Common Retirement Fund owned 0.05% of GMS worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GMS. Allspring Global Investments Holdings LLC boosted its position in shares of GMS by 51.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,116 shares of the company's stock valued at $598,000 after acquiring an additional 2,753 shares during the period. Principal Financial Group Inc. boosted its stake in GMS by 1.7% during the first quarter. Principal Financial Group Inc. now owns 224,048 shares of the company's stock worth $16,394,000 after buying an additional 3,799 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of GMS in the 1st quarter valued at $442,000. Yousif Capital Management LLC lifted its holdings in shares of GMS by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock worth $1,108,000 after acquiring an additional 147 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of GMS by 38.3% during the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds 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 stock in a transaction dated 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 transaction, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of GMS stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total value of $6,046,587.20. Following the sale, the insider directly owned 3,486,524 shares in the company, valued at $383,691,966.20. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock worth $37,808,097 in the last three months. 1.90% of the stock is currently owned by company insiders.

GMS Trading Up 0.2%

GMS traded up $0.18 during mid-day trading on Friday, hitting $109.73. The stock had a trading volume of 994,117 shares, compared to its average volume of 2,394,637. The stock's fifty day simple moving average is $92.43 and its 200-day simple moving average is $82.37. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 37.97 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 company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17.

GMS (NYSE:GMS - Get Free Report) last released its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.18. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.93 EPS. As a group, research analysts forecast that GMS Inc. will post 7.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GMS shares. Baird R W lowered shares of GMS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 23rd. DA Davidson upped their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada increased their price objective on GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 1st. Robert W. Baird restated a "neutral" rating and issued a $95.00 target price (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Finally, Truist Financial boosted their price target on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, GMS presently has an average rating of "Hold" and a consensus price target 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.