Smartleaf Asset Management LLC Acquires 530 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Smartleaf Asset Management LLC increased its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 296.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 709 shares of the construction company’s stock after purchasing an additional 530 shares during the period. Smartleaf Asset Management LLC’s holdings in Gibraltar Industries were worth $42,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ROCK. Farther Finance Advisors LLC raised its position in shares of Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after acquiring an additional 277 shares during the period. Atria Investments Inc grew its position in shares of Gibraltar Industries by 14.8% in the 3rd quarter. Atria Investments Inc now owns 4,085 shares of the construction company’s stock valued at $286,000 after acquiring an additional 528 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Gibraltar Industries by 13.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,823 shares of the construction company’s stock valued at $2,016,000 after buying an additional 3,455 shares during the period. Victory Capital Management Inc. boosted its position in 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 purchasing an additional 322,422 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Gibraltar Industries by 21.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,477 shares of the construction company’s stock valued at $1,082,000 after buying an additional 2,691 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Gibraltar Industries Trading Up 0.3 %

Shares of Gibraltar Industries stock opened at $65.83 on Wednesday. The company has a 50 day moving average of $61.77 and a 200-day moving average of $65.98. Gibraltar Industries, Inc. has a 1-year low of $55.31 and a 1-year high of $81.90. The company has a market cap of $2.00 billion, a PE ratio of 14.73 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $302.06 million for the quarter, compared to analysts’ expectations of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The company’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Research analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

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.