Rhumbline Advisers Raises Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Rhumbline Advisers boosted its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,220 shares of the construction company’s stock after purchasing an additional 4,280 shares during the period. Rhumbline Advisers owned approximately 0.31% of Gibraltar Industries worth $5,608,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Gibraltar Industries by 1,663.5% in the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after acquiring an additional 685,462 shares during the period. Geode Capital Management LLC grew its stake in shares of Gibraltar Industries by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after purchasing an additional 32,950 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gibraltar Industries during the 3rd quarter valued at about $792,000. Citigroup Inc. increased its position in shares of Gibraltar Industries by 29.5% during the 3rd quarter. Citigroup Inc. now owns 58,768 shares of the construction company’s stock valued at $4,110,000 after purchasing an additional 13,392 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Gibraltar Industries by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock worth $401,000 after purchasing an additional 445 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 20th.

Gibraltar Industries Price Performance

NASDAQ:ROCK opened at $64.85 on Friday. Gibraltar Industries, Inc. has a one year low of $55.31 and a one year high of $81.90. The business has a fifty day moving average price of $60.84 and a 200-day moving average price of $65.98. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.51 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The business had revenue of $302.06 million during the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. Gibraltar Industries’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities research analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Gibraltar Industries Company 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.