Envestnet Asset Management Inc. Reduces Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Envestnet Asset Management Inc. decreased its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,996 shares of the construction company’s stock after selling 10,395 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.24% of Gibraltar Industries worth $4,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC bought a new stake in Gibraltar Industries during the 1st quarter valued at about $476,000. Credit Suisse AG raised its holdings in shares of Gibraltar Industries by 2.0% in the 1st quarter. Credit Suisse AG now owns 46,865 shares of the construction company’s stock valued at $2,273,000 after purchasing an additional 923 shares in the last quarter. Shelton Capital Management bought a new stake in shares of Gibraltar Industries in the 1st quarter valued at about $4,943,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Gibraltar Industries by 2.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,771 shares of the construction company’s stock valued at $1,055,000 after purchasing an additional 462 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Gibraltar Industries by 10.7% in the 1st quarter. Federated Hermes Inc. now owns 48,568 shares of the construction company’s stock valued at $2,356,000 after purchasing an additional 4,703 shares in the last quarter. Institutional investors own 96.85% of the company’s stock.

Gibraltar Industries Stock Down 0.4 %

Shares of Gibraltar Industries stock opened at $68.44 on Tuesday. The firm’s 50 day moving average price is $65.67 and its 200-day moving average price is $64.14. Gibraltar Industries, Inc. has a 52-week low of $44.69 and a 52-week high of $77.10. The company has a market cap of $2.08 billion, a P/E ratio of 22.29 and a beta of 1.09.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th.

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.