JPMorgan Chase & Co. Sells 3,472 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

JPMorgan Chase & Co. cut its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,538 shares of the construction company’s stock after selling 3,472 shares during the quarter. JPMorgan Chase & Co. owned about 0.48% of Gibraltar Industries worth $10,247,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Gibraltar Industries by 27.8% in the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock valued at $103,613,000 after acquiring an additional 322,422 shares during the last quarter. State Street Corp grew its holdings in Gibraltar Industries by 4.6% during the third quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock worth $89,390,000 after purchasing an additional 56,008 shares during the period. Pacer Advisors Inc. increased its position in 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 buying an additional 138,194 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Gibraltar Industries by 1.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock valued at $57,882,000 after buying an additional 9,764 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Gibraltar Industries by 4.1% in the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after buying an additional 32,950 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Gibraltar Industries Price Performance

NASDAQ:ROCK opened at $56.20 on Monday. The company has a market cap of $1.71 billion, a P/E ratio of 15.61 and a beta of 1.19. Gibraltar Industries, Inc. has a one year low of $56.15 and a one year high of $87.40. The firm’s fifty day moving average price is $66.61 and its two-hundred day moving average price is $68.35.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 31st.

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.