Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Hennion & Walsh Asset Management Inc. raised its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 49.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,099 shares of the construction company’s stock after purchasing an additional 4,008 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Gibraltar Industries were worth $974,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Gibraltar Industries by 26.3% in the 4th quarter. Quadrant Capital Group LLC now owns 668 shares of the construction company’s stock worth $53,000 after buying an additional 139 shares during the period. Natixis Advisors L.P. lifted its position in Gibraltar Industries by 1.1% during the fourth quarter. Natixis Advisors L.P. now owns 18,326 shares of the construction company’s stock valued at $1,447,000 after purchasing an additional 194 shares during the period. Mackenzie Financial Corp lifted its position in Gibraltar Industries by 8.7% during the fourth quarter. Mackenzie Financial Corp now owns 4,321 shares of the construction company’s stock valued at $341,000 after purchasing an additional 345 shares during the period. Ritholtz Wealth Management boosted its holdings in Gibraltar Industries by 15.0% in the fourth quarter. Ritholtz Wealth Management now owns 4,205 shares of the construction company’s stock valued at $332,000 after purchasing an additional 549 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Gibraltar Industries during the 4th quarter worth about $57,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Gibraltar Industries Trading Down 3.6 %

Gibraltar Industries stock opened at $66.06 on Tuesday. The firm has a market cap of $2.01 billion, a PE ratio of 17.76 and a beta of 1.15. The stock’s 50 day simple moving average is $71.81 and its two-hundred day simple moving average is $76.45. Gibraltar Industries, Inc. has a 12 month low of $59.11 and a 12 month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $292.51 million for the quarter, compared to analyst estimates of $296.29 million. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, equities research analysts forecast that Gibraltar Industries, Inc. will post 4.79 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.