Swiss National Bank increased its stake in shares of Gibraltar Industries Inc. (NASDAQ:ROCK) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 51,700 shares of the company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank owned about 0.16% of Gibraltar Industries worth $1,632,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Fund Advisors boosted 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 during the period. Prudential Financial Inc. boosted 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 during the period. Renaissance Technologies LLC boosted 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 during the period. Bank of New York Mellon Corp boosted its position in 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 worth $12,952,000 after buying an additional 19,657 shares during the last quarter. Finally, Norges Bank acquired a new position in Gibraltar Industries during the fourth quarter worth $11,021,000. 98.24% of the stock is owned by institutional investors and hedge funds.
Gibraltar Industries Inc. (NASDAQ:ROCK) traded down 1.70% during midday trading on Friday, reaching $37.60. The company’s stock had a trading volume of 111,441 shares. Gibraltar Industries Inc. has a 52 week low of $17.05 and a 52 week high of $40.00. The company’s 50-day moving average is $37.58 and its 200 day moving average is $31.77. The firm has a market capitalization of $1.18 billion, a P/E ratio of 32.11 and a beta of 2.16.
Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.07. The company had revenue of $263.10 million for the quarter, compared to analyst estimates of $271.27 million. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Analysts expect that Gibraltar Industries Inc. will post $1.45 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on ROCK shares. Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Monday, July 18th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Gibraltar Industries in a report on Thursday, July 28th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $32.80.
About Gibraltar Industries
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.
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