KLP Kapitalforvaltning AS Purchases New Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

KLP Kapitalforvaltning AS acquired a new position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,400 shares of the construction company’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its holdings in shares of Gibraltar Industries by 1,663.5% during the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock valued at $50,816,000 after buying an additional 685,462 shares during the last quarter. Geode Capital Management LLC lifted its position in Gibraltar Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after acquiring an additional 32,950 shares in the last quarter. Franklin Resources Inc. boosted its stake in Gibraltar Industries by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock valued at $401,000 after purchasing an additional 445 shares during the last quarter. Barclays PLC increased its holdings in shares of Gibraltar Industries by 93.8% in the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock worth $7,226,000 after purchasing an additional 50,017 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Gibraltar Industries by 4.7% in the fourth quarter. Rhumbline Advisers now owns 95,220 shares of the construction company’s stock worth $5,608,000 after purchasing an additional 4,280 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Down 1.9 %

Gibraltar Industries stock opened at $52.51 on Friday. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90. The company has a market cap of $1.56 billion, a P/E ratio of 11.75 and a beta of 1.22. The business has a 50-day simple moving average of $62.24 and a two-hundred day simple moving average of $65.26.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $302.06 million during 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 firm’s revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. Research analysts anticipate that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.