Truist Financial Corp Sells 14,717 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Truist Financial Corp cut its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 37.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,282 shares of the construction company’s stock after selling 14,717 shares during the period. Truist Financial Corp owned 0.08% of Gibraltar Industries worth $1,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after purchasing an additional 685,462 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Gibraltar Industries by 27.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock valued at $103,613,000 after purchasing an additional 322,422 shares in the last quarter. State Street Corp increased its holdings in shares of Gibraltar Industries by 4.6% in 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. Barclays PLC raised its position in shares of Gibraltar Industries by 93.8% in the third quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock worth $7,226,000 after buying an additional 50,017 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Gibraltar Industries by 4.1% during 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 period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Gibraltar Industries Price Performance

Shares of NASDAQ:ROCK opened at $64.85 on Friday. The company’s fifty day moving average price is $60.84 and its 200-day moving average price is $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, Inc. has a one year low of $55.31 and a one year high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $307.93 million. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, equities research analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current 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.