Arizona State Retirement System Raises Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Arizona State Retirement System grew its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,523 shares of the construction company’s stock after purchasing an additional 158 shares during the quarter. Arizona State Retirement System’s holdings in Gibraltar Industries were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ROCK. Innealta Capital LLC acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at $39,000. Quadrant Capital Group LLC raised its holdings in shares of Gibraltar Industries by 26.3% in the 4th quarter. Quadrant Capital Group LLC now owns 668 shares of the construction company’s stock valued at $53,000 after purchasing an additional 139 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at $55,000. Lazard Asset Management LLC raised its holdings in shares of Gibraltar Industries by 9,273.9% in the 1st quarter. Lazard Asset Management LLC now owns 2,156 shares of the construction company’s stock valued at $173,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at $189,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd.

Gibraltar Industries Stock Performance

NASDAQ ROCK opened at $69.41 on Tuesday. The firm has a market cap of $2.12 billion, a PE ratio of 18.66 and a beta of 1.14. Gibraltar Industries, Inc. has a one year low of $59.66 and a one year high of $87.40. The firm’s fifty day moving average is $69.86 and its two-hundred day moving average is $72.23.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.08). The firm had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. Research analysts predict that Gibraltar Industries, Inc. will post 4.6 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.