Charles Schwab Investment Management Inc. Purchases 19,614 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Charles Schwab Investment Management Inc. lifted its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 410,781 shares of the construction company’s stock after acquiring an additional 19,614 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.35% of Gibraltar Industries worth $28,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROCK. Victory Capital Management Inc. raised its position in shares of Gibraltar Industries by 27.8% during the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after acquiring an additional 322,422 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Gibraltar Industries by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock worth $74,320,000 after acquiring an additional 138,194 shares during the last quarter. Millennium Management LLC raised its position in shares of Gibraltar Industries by 196.4% during the second quarter. Millennium Management LLC now owns 123,438 shares of the construction company’s stock worth $8,462,000 after acquiring an additional 81,791 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gibraltar Industries by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock worth $45,318,000 after purchasing an additional 81,401 shares during the period. Finally, Swedbank AB grew its stake in shares of Gibraltar Industries by 34.1% during the second quarter. Swedbank AB now owns 283,251 shares of the construction company’s stock worth $19,417,000 after purchasing an additional 71,951 shares during the period. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Up 0.4 %

Shares of Gibraltar Industries stock opened at $72.01 on Thursday. Gibraltar Industries, Inc. has a 12 month low of $61.92 and a 12 month high of $87.40. The business has a fifty day simple moving average of $69.65 and a 200 day simple moving average of $70.07. The stock has a market cap of $2.18 billion, a PE ratio of 19.91 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The firm had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was down 7.6% on a year-over-year basis. Analysts expect that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Gibraltar Industries Profile

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.