Wells Fargo & Company MN Decreases Stock Holdings in GMS Inc. (NYSE:GMS)

Wells Fargo & Company MN trimmed its holdings in GMS Inc. (NYSE:GMS - Free Report) by 71.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,468 shares of the company's stock after selling 64,304 shares during the quarter. Wells Fargo & Company MN owned 0.07% of GMS worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GMS. Barclays PLC boosted its holdings in GMS by 374.0% in the third quarter. Barclays PLC now owns 70,580 shares of the company's stock valued at $6,392,000 after acquiring an additional 55,690 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in GMS by 246.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after purchasing an additional 705 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in GMS by 42.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 110,304 shares of the company's stock worth $9,357,000 after purchasing an additional 33,123 shares during the last quarter. AlphaQuest LLC boosted its holdings in 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 during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in GMS by 6.9% in the third quarter. Lord Abbett & CO. LLC now owns 90,374 shares of the company's stock valued at $8,185,000 after acquiring an additional 5,833 shares during the last quarter. 95.28% of the stock is owned by institutional investors.

GMS Trading Up 0.1 %

Shares of GMS stock traded up $0.04 during mid-day trading on Monday, reaching $73.33. The stock had a trading volume of 217,977 shares, compared to its average volume of 414,434. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $105.54. The firm has a market capitalization of $2.82 billion, a PE ratio of 13.48 and a beta of 1.62. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average price is $73.86 and its two-hundred day moving average price is $84.57.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. Equities analysts expect that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. Robert W. Baird reduced their price objective on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Barclays lowered their price objective on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Loop Capital lowered their price target on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, Truist Financial decreased their price objective on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, GMS currently has an average rating of "Hold" and a consensus target price of $80.50.

Insider Buying and Selling at GMS

In other news, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the transaction, the director now owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. The trade was a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

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.