Fmr LLC Buys 685,462 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Fmr LLC grew its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1,663.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 726,667 shares of the construction company’s stock after purchasing an additional 685,462 shares during the period. Fmr LLC’s holdings in Gibraltar Industries were worth $50,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Gibraltar Industries in the second quarter worth $404,000. AlphaMark Advisors LLC lifted its holdings in shares of Gibraltar Industries by 4,456.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 4,556 shares of the construction company’s stock worth $312,000 after acquiring an additional 4,456 shares during the last quarter. Swedbank AB boosted its stake in shares of Gibraltar Industries by 34.1% during the 2nd quarter. Swedbank AB now owns 283,251 shares of the construction company’s stock worth $19,417,000 after purchasing an additional 71,951 shares during the period. Blue Trust Inc. grew its holdings in Gibraltar Industries by 184,800.0% during the 2nd quarter. Blue Trust Inc. now owns 5,547 shares of the construction company’s stock valued at $380,000 after purchasing an additional 5,544 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Gibraltar Industries by 12.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,594 shares of the construction company’s stock worth $932,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Down 0.1 %

Shares of Gibraltar Industries stock opened at $70.62 on Friday. The stock’s fifty day moving average is $69.76 and its two-hundred day moving average is $70.05. Gibraltar Industries, Inc. has a 52 week low of $61.92 and a 52 week high of $87.40. The company has a market capitalization of $2.14 billion, a PE ratio of 19.62 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $360.43 million. During the same period in the prior year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, research analysts anticipate that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 3rd.

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.