Geode Capital Management LLC Boosts Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Geode Capital Management LLC increased its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 854,821 shares of the construction company’s stock after buying an additional 15,889 shares during the period. Geode Capital Management LLC’s holdings in Gibraltar Industries were worth $50,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ROCK. Smartleaf Asset Management LLC raised its position in Gibraltar Industries by 296.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock worth $42,000 after buying an additional 530 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in shares of Gibraltar Industries during the fourth quarter valued at approximately $53,000. KBC Group NV lifted its position in Gibraltar Industries by 50.2% during the fourth quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock valued at $85,000 after purchasing an additional 480 shares during the period. SG Americas Securities LLC purchased a new stake in Gibraltar Industries in the fourth quarter worth approximately $117,000. Finally, PNC Financial Services Group Inc. grew its position in Gibraltar Industries by 7.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company’s stock worth $200,000 after purchasing an additional 228 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Gibraltar Industries Stock Performance

Shares of NASDAQ:ROCK opened at $54.23 on Monday. The stock’s 50-day simple moving average is $61.18 and its two-hundred day simple moving average is $64.37. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 12.13 and a beta of 1.22. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $302.06 million for the quarter, compared to analysts’ expectations of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, equities analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share 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.