Van ECK Associates Corp Buys 9,515 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Van ECK Associates Corp boosted its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 35.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,346 shares of the construction company’s stock after acquiring an additional 9,515 shares during the quarter. Van ECK Associates Corp’s holdings in Gibraltar Industries were worth $2,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Gibraltar Industries by 122.0% in the 4th quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock valued at $64,766,000 after purchasing an additional 450,665 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $50,120,000 after acquiring an additional 56,126 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of 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 valued at $22,651,000 after acquiring an additional 216,818 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Gibraltar Industries by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 305,038 shares of the construction company’s stock valued at $20,593,000 after acquiring an additional 25,358 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Gibraltar Industries by 72.2% during the third quarter. Invesco Ltd. now owns 245,220 shares of the construction company’s stock valued at $16,555,000 after acquiring an additional 102,848 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Gibraltar Industries Stock Performance

ROCK stock opened at $72.76 on Tuesday. The company has a fifty day moving average price of $75.67 and a 200-day moving average price of $75.08. The company has a market capitalization of $2.22 billion, a P/E ratio of 19.56 and a beta of 1.20. Gibraltar Industries, Inc. has a 52-week low of $51.36 and a 52-week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The business had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. During the same quarter last year, the firm earned $0.70 earnings per share. Gibraltar Industries’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.79 earnings per share for the current fiscal year.

Gibraltar Industries 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.