State Board of Administration of Florida Retirement System cut its stake in Gibraltar Industries Inc. (NASDAQ:ROCK) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,671 shares of the company’s stock after selling 3,928 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of Gibraltar Industries worth $937,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of ROCK. BlackRock Fund Advisors increased its position in shares of Gibraltar Industries by 0.6% in the first quarter. BlackRock Fund Advisors now owns 1,936,617 shares of the company’s stock valued at $55,387,000 after buying an additional 10,763 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Gibraltar Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 72,785 shares of the company’s stock valued at $2,082,000 after buying an additional 2,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Gibraltar Industries by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,039,153 shares of the company’s stock valued at $29,720,000 after buying an additional 88,300 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Gibraltar Industries by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 410,270 shares of the company’s stock valued at $12,952,000 after buying an additional 19,657 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Gibraltar Industries during the fourth quarter valued at approximately $11,021,000. 98.24% of the stock is currently owned by institutional investors.
Shares of Gibraltar Industries Inc. (NASDAQ:ROCK) traded down 0.40% during mid-day trading on Monday, hitting $37.45. The stock had a trading volume of 81,456 shares. The stock has a 50 day moving average of $37.58 and a 200-day moving average of $31.77. The stock has a market capitalization of $1.18 billion, a P/E ratio of 31.98 and a beta of 2.16. Gibraltar Industries Inc. has a 52 week low of $17.05 and a 52 week high of $40.00.
Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The firm earned $263.10 million during the quarter, compared to analysts’ expectations of $271.27 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Gibraltar Industries Inc. will post $1.45 earnings per share for the current year.
Several research analysts have commented on ROCK shares. Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, June 30th. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Gibraltar Industries in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.80.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
Want to see what other hedge funds are holding ROCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gibraltar Industries Inc. (NASDAQ:ROCK).
Receive News & Ratings for Gibraltar Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.