Bank of New York Mellon Corp Has $18.93 Million Stock Position in GMS Inc. (NYSE:GMS)

Bank of New York Mellon Corp reduced its stake in GMS Inc. (NYSE:GMS) by 6.6% during the first quarter, Holdings Channel.com reports. The fund owned 258,774 shares of the company’s stock after selling 18,403 shares during the period. Bank of New York Mellon Corp’s holdings in GMS were worth $18,934,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GMS. FMR LLC lifted its stake in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after buying an additional 1,636,612 shares during the period. Coliseum Capital Management LLC lifted its stake in GMS by 135.0% in the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock valued at $160,285,000 after buying an additional 1,085,551 shares during the period. Granite Investment Partners LLC acquired a new position in GMS in the fourth quarter valued at approximately $11,913,000. Reinhart Partners LLC. lifted its stake in GMS by 17.5% in the first quarter. Reinhart Partners LLC. now owns 636,235 shares of the company’s stock valued at $46,553,000 after buying an additional 94,716 shares during the period. Finally, Northern Trust Corp lifted its stake in GMS by 13.9% in the fourth quarter. Northern Trust Corp now owns 580,130 shares of the company’s stock valued at $49,212,000 after buying an additional 70,927 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 transaction, the chief operating officer directly owned 23,950 shares of the company’s stock, valued at $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Coliseum Capital Management, L sold 179,133 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.05, for a total value of $19,713,586.65. Following the sale, the insider owned 3,646,018 shares of the company’s stock, valued at $401,244,280.90. This trade represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,627 shares of company stock worth $37,808,097 over the last ninety days. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GMS. Loop Capital boosted their price target on GMS from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, July 1st. Barclays boosted their price target on GMS from $95.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Stephens lowered GMS from a “strong-buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research note on Friday, June 27th. Truist Financial boosted their price target on GMS from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, July 1st. Finally, Baird R W lowered GMS from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.11.

GMS Price Performance

Shares of NYSE:GMS opened at $109.85 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28. The stock’s 50 day moving average is $89.12 and its 200-day moving average is $81.46. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 38.01 and a beta of 1.71.

GMS (NYSE:GMS) last issued its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. GMS’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts forecast that GMS Inc. will post 7.26 EPS for the current fiscal 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.