Van ECK Associates Corp Raises Position in Gibraltar Industries Inc (ROCK)

Van ECK Associates Corp boosted its stake in Gibraltar Industries Inc (NASDAQ:ROCK) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,092 shares of the construction company’s stock after buying an additional 13,487 shares during the period. Van ECK Associates Corp’s holdings in Gibraltar Industries were worth $2,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Gibraltar Industries during the fourth quarter valued at about $294,000. A.R.T. Advisors LLC purchased a new position in Gibraltar Industries during the fourth quarter valued at about $749,000. Capstone Investment Advisors LLC purchased a new position in Gibraltar Industries during the fourth quarter valued at about $463,000. Renaissance Technologies LLC increased its position in Gibraltar Industries by 30.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,264,600 shares of the construction company’s stock valued at $52,671,000 after buying an additional 293,500 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new position in Gibraltar Industries during the fourth quarter valued at about $142,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Gibraltar Industries (NASDAQ:ROCK)

Gibraltar Industries Inc (ROCK) opened at 33.25 on Wednesday. The firm’s 50-day moving average price is $34.51 and its 200 day moving average price is $40.26. The firm has a market cap of $1.05 billion, a P/E ratio of 37.40 and a beta of 2.03. Gibraltar Industries Inc has a 12-month low of $29.48 and a 12-month high of $48.05.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Friday, May 5th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.01. The firm had revenue of $206.60 million during the quarter, compared to analyst estimates of $209.88 million. Gibraltar Industries had a net margin of 3.56% and a return on equity of 11.20%. Gibraltar Industries’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. Analysts forecast that Gibraltar Industries Inc will post $1.63 earnings per share for the current fiscal year.

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Several research analysts have issued reports on the company. Zacks Investment Research raised Gibraltar Industries from a “sell” rating to a “hold” rating in a report on Monday, March 20th. TheStreet downgraded Gibraltar Industries from a “b” rating to a “c+” rating in a report on Friday, February 17th. Finally, Wedbush reduced their price objective on Gibraltar Industries from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st.

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’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ROCK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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