Raymond James & Associates Acquires 1,660 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Raymond James & Associates boosted its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,872 shares of the construction company’s stock after purchasing an additional 1,660 shares during the quarter. Raymond James & Associates’ holdings in Gibraltar Industries were worth $4,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROCK. JPMorgan Chase & Co. boosted its position in shares of Gibraltar Industries by 59.5% in the first quarter. JPMorgan Chase & Co. now owns 33,829 shares of the construction company’s stock valued at $1,453,000 after acquiring an additional 12,621 shares during the period. US Bancorp DE boosted its holdings in Gibraltar Industries by 60.8% in the 1st quarter. US Bancorp DE now owns 2,160 shares of the construction company’s stock valued at $93,000 after purchasing an additional 817 shares during the period. Citigroup Inc. boosted its holdings in Gibraltar Industries by 12.2% in the 1st quarter. Citigroup Inc. now owns 31,852 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 3,456 shares during the period. PNC Financial Services Group Inc. grew its position in Gibraltar Industries by 23.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the construction company’s stock worth $138,000 after purchasing an additional 614 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Gibraltar Industries by 57.5% during the 1st quarter. MetLife Investment Management LLC now owns 17,585 shares of the construction company’s stock worth $755,000 after purchasing an additional 6,421 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 29th.

Gibraltar Industries Trading Up 0.7 %

Shares of NASDAQ:ROCK opened at $75.24 on Friday. The firm has a market capitalization of $2.29 billion, a PE ratio of 20.96 and a beta of 1.17. Gibraltar Industries, Inc. has a 1-year low of $47.23 and a 1-year high of $87.40. The business’s 50 day moving average is $79.28 and its 200-day moving average is $74.14.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The business had revenue of $328.80 million during the quarter, compared to the consensus estimate of $331.40 million. During the same period last year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Gibraltar Industries, Inc. will post 4.73 EPS for the current year.

Gibraltar Industries Company 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.