Comerica Bank Has $1,450,000 Position in Gibraltar Industries Inc (ROCK)
Comerica Bank increased its stake in shares of Gibraltar Industries Inc (NASDAQ:ROCK) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,538 shares of the company’s stock after buying an additional 2,021 shares during the period. Comerica Bank owned 0.11% of Gibraltar Industries worth $1,450,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. MSI Financial Services Inc raised its stake in Gibraltar Industries by 1,815.3% in the third quarter. MSI Financial Services Inc now owns 2,873 shares of the company’s stock valued at $107,000 after buying an additional 2,723 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Gibraltar Industries during the third quarter valued at about $130,000. Smith Asset Management Group LP bought a new stake in Gibraltar Industries during the third quarter valued at about $190,000. TD Asset Management Inc. bought a new stake in Gibraltar Industries during the third quarter valued at about $215,000. Finally, Homrich & Berg bought a new stake in Gibraltar Industries during the third quarter valued at about $223,000. 98.50% of the stock is owned by institutional investors and hedge funds.
Shares of Gibraltar Industries Inc (NASDAQ:ROCK) opened at 41.85 on Tuesday. The stock has a 50 day moving average price of $41.64 and a 200 day moving average price of $40.93. Gibraltar Industries Inc has a 1-year low of $24.12 and a 1-year high of $48.05. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 39.90 and a beta of 2.03.
Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Friday, February 17th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Gibraltar Industries had a return on equity of 11.20% and a net margin of 3.56%. The business earned $231.90 million during the quarter, compared to analysts’ expectations of $228.50 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The business’s revenue was down 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Gibraltar Industries Inc will post $1.82 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Gibraltar Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Gibraltar Industries in a research note on Monday, March 13th. Finally, TheStreet lowered Gibraltar Industries from a “b” rating to a “c+” rating in a research note on Friday, February 17th.
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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