Gibraltar Industries, Inc. (ROCK) Stake Lowered by Royce & Associates LP
Royce & Associates LP lessened its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 15.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,420 shares of the construction company’s stock after selling 45,500 shares during the period. Royce & Associates LP owned about 0.81% of Gibraltar Industries worth $9,177,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Gibraltar Industries during the first quarter worth $112,000. LS Investment Advisors LLC raised its holdings in shares of Gibraltar Industries by 175.4% during the first quarter. LS Investment Advisors LLC now owns 3,368 shares of the construction company’s stock worth $139,000 after acquiring an additional 2,145 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Gibraltar Industries by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 3,490 shares of the construction company’s stock worth $143,000 after acquiring an additional 100 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Gibraltar Industries by 14.1% during the first quarter. BNP Paribas Arbitrage SA now owns 6,223 shares of the construction company’s stock worth $256,000 after acquiring an additional 771 shares in the last quarter. Finally, GW&K Investment Management LLC raised its holdings in shares of Gibraltar Industries by 33.7% during the second quarter. GW&K Investment Management LLC now owns 6,770 shares of the construction company’s stock worth $241,000 after acquiring an additional 1,705 shares in the last quarter.
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Several analysts recently issued reports on ROCK shares. KeyCorp reiterated an “overweight” rating and set a $19.00 price objective (down from $49.00) on shares of Gibraltar Industries in a report on Thursday, May 11th. Zacks Investment Research lowered Gibraltar Industries from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th. Finally, BidaskClub upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Gibraltar Industries has an average rating of “Hold” and a consensus price target of $37.00.
Gibraltar Industries, Inc. (NASDAQ ROCK) opened at 29.30 on Monday. The firm’s 50-day moving average price is $29.61 and its 200 day moving average price is $35.14. The company has a market capitalization of $929.04 million, a price-to-earnings ratio of 41.92 and a beta of 1.81. Gibraltar Industries, Inc. has a 12-month low of $25.61 and a 12-month high of $48.05.
Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Thursday, July 27th. The construction company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The firm had revenue of $247.63 million during the quarter, compared to analyst estimates of $251.97 million. Gibraltar Industries had a net margin of 2.38% and a return on equity of 10.14%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. On average, equities research analysts expect that Gibraltar Industries, Inc. will post $1.58 EPS for the current fiscal year.
Gibraltar Industries 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.
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