Federated Hermes Inc. Decreases Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Federated Hermes Inc. reduced its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,438 shares of the construction company’s stock after selling 3,409 shares during the period. Federated Hermes Inc.’s holdings in Gibraltar Industries were worth $3,115,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ROCK. Pacer Advisors Inc. raised its stake in Gibraltar Industries by 122.0% during the fourth quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock worth $64,766,000 after purchasing an additional 450,665 shares during the period. Assenagon Asset Management S.A. raised its stake in Gibraltar Industries by 182.7% during the third quarter. Assenagon Asset Management S.A. now owns 335,518 shares of the construction company’s stock worth $22,651,000 after purchasing an additional 216,818 shares during the period. Invesco Ltd. raised its stake in Gibraltar Industries by 72.2% during the third quarter. Invesco Ltd. now owns 245,220 shares of the construction company’s stock worth $16,555,000 after purchasing an additional 102,848 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Gibraltar Industries by 9.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock worth $50,120,000 after purchasing an additional 56,126 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Gibraltar Industries by 79.4% during the third quarter. Qube Research & Technologies Ltd now owns 78,786 shares of the construction company’s stock worth $5,319,000 after purchasing an additional 34,866 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Gibraltar Industries Stock Performance

Shares of ROCK stock opened at $72.26 on Friday. Gibraltar Industries, Inc. has a one year low of $48.52 and a one year high of $87.40. The firm’s 50 day moving average price is $76.52 and its 200-day moving average price is $74.67. The firm has a market cap of $2.20 billion, a P/E ratio of 20.13 and a beta of 1.17.

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

About Gibraltar Industries

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.