Bank of New York Mellon Corp Has $22.48 Million Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Bank of New York Mellon Corp trimmed its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,687 shares of the construction company’s stock after selling 16,302 shares during the period. Bank of New York Mellon Corp owned 1.26% of Gibraltar Industries worth $22,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ROCK. 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. State Street Corp boosted its position in shares of Gibraltar Industries by 4.6% in the third quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after acquiring an additional 56,008 shares during the period. Geode Capital Management LLC boosted its position in shares of Gibraltar Industries by 4.1% in the third 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 during the period. FMR LLC boosted its position in shares of Gibraltar Industries by 1,663.5% in the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock valued at $50,816,000 after acquiring an additional 685,462 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Gibraltar Industries by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,781 shares of the construction company’s stock valued at $28,726,000 after acquiring an additional 19,614 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Gibraltar Industries Stock Down 1.3 %

ROCK stock opened at $65.64 on Tuesday. The company has a market cap of $1.99 billion, a PE ratio of 14.68 and a beta of 1.20. The business has a 50-day simple moving average of $61.63 and a 200 day simple moving average of $66.00. Gibraltar Industries, Inc. has a 52 week low of $55.31 and a 52 week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly 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 the consensus estimate of $307.93 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. Gibraltar Industries’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, analysts anticipate that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

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.