Principal Financial Group Inc. Has $11 Million Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Principal Financial Group Inc. decreased its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,265 shares of the construction company’s stock after selling 6,182 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Gibraltar Industries worth $10,998,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Gibraltar Industries by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,888,642 shares of the construction company’s stock worth $232,622,000 after buying an additional 68,728 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Gibraltar Industries by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock worth $74,320,000 after acquiring an additional 138,194 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Gibraltar Industries by 1.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock valued at $57,882,000 after purchasing an additional 9,764 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Gibraltar Industries by 14.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock valued at $45,318,000 after purchasing an additional 81,401 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Gibraltar Industries by 16.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company’s stock worth $22,955,000 after purchasing an additional 45,416 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Trading Down 1.9 %

NASDAQ ROCK opened at $70.66 on Monday. The firm’s fifty day moving average price is $69.19 and its two-hundred day moving average price is $70.27. Gibraltar Industries, Inc. has a 1 year low of $61.92 and a 1 year high of $87.40. The firm has a market capitalization of $2.14 billion, a P/E ratio of 19.63 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, research analysts anticipate that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

Gibraltar Industries 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.