Principal Financial Group Inc. Reduces Stock Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Principal Financial Group Inc. reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 192,805 shares of the construction company’s stock after selling 2,589 shares during the quarter. Principal Financial Group Inc. owned 0.63% of Gibraltar Industries worth $9,351,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Gibraltar Industries by 12.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,035 shares of the construction company’s stock worth $83,000 after purchasing an additional 224 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Gibraltar Industries by 14.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,182 shares of the construction company’s stock worth $100,000 after purchasing an additional 273 shares during the last quarter. Gabelli Funds LLC increased its holdings in Gibraltar Industries by 0.9% during the 1st quarter. Gabelli Funds LLC now owns 30,418 shares of the construction company’s stock worth $1,306,000 after purchasing an additional 276 shares during the last quarter. Sei Investments Co. increased its holdings in Gibraltar Industries by 2.5% during the 1st quarter. Sei Investments Co. now owns 11,473 shares of the construction company’s stock worth $493,000 after purchasing an additional 280 shares during the last quarter. Finally, Boston Partners increased its holdings in Gibraltar Industries by 2.4% during the 4th quarter. Boston Partners now owns 14,515 shares of the construction company’s stock worth $666,000 after purchasing an additional 337 shares during the last quarter. 96.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Gibraltar Industries in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company.

Gibraltar Industries Price Performance

Shares of NASDAQ ROCK opened at $74.37 on Wednesday. Gibraltar Industries, Inc. has a twelve month low of $36.58 and a twelve month high of $74.85. The company has a current ratio of 1.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 25.91 and a beta of 1.16. The business has a 50 day simple moving average of $66.02 and a 200-day simple moving average of $57.15.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $364.90 million during the quarter, compared to the consensus estimate of $355.45 million. Gibraltar Industries had a return on equity of 13.87% and a net margin of 6.56%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 EPS. As a group, equities research analysts expect that Gibraltar Industries, Inc. will post 3.96 earnings per share for the current year.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. 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.