Principal Financial Group Inc. Reduces Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Principal Financial Group Inc. lowered its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in Gibraltar Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock worth $584,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC lifted its stake in Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after purchasing an additional 170 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Gibraltar Industries by 1.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock valued at $965,000 after purchasing an additional 211 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after purchasing an additional 277 shares during the period. Finally, Quarry LP lifted its position in shares of Gibraltar Industries by 33.3% in the 3rd quarter. Quarry LP now owns 1,318 shares of the construction company’s stock worth $92,000 after buying an additional 329 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 21st.

Gibraltar Industries Stock Performance

Shares of ROCK opened at $59.22 on Monday. Gibraltar Industries, Inc. has a 1 year low of $59.05 and a 1 year high of $87.40. The firm has a fifty day moving average of $68.11 and a 200-day moving average of $69.16. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 16.45 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, beating 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 company had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. During the same quarter last year, the business earned $1.38 earnings per share. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. Analysts predict that Gibraltar Industries, Inc. will post 4.18 EPS 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.