The Manufacturers Life Insurance Company Sells 305,810 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

The Manufacturers Life Insurance Company cut its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 94.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,900 shares of the construction company’s stock after selling 305,810 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Gibraltar Industries worth $1,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ROCK. Dynamic Technology Lab Private Ltd bought a new position in shares of Gibraltar Industries during the 3rd quarter valued at approximately $792,000. Citigroup Inc. boosted its position in shares of Gibraltar Industries by 29.5% in the third quarter. Citigroup Inc. now owns 58,768 shares of the construction company’s stock worth $4,110,000 after purchasing an additional 13,392 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Gibraltar Industries by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,781 shares of the construction company’s stock worth $28,726,000 after purchasing an additional 19,614 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Gibraltar Industries by 44.0% during the 3rd quarter. Intech Investment Management LLC now owns 16,169 shares of the construction company’s stock valued at $1,131,000 after buying an additional 4,943 shares in the last quarter. Finally, Aurora Investment Counsel bought a new position in Gibraltar Industries in the 3rd quarter worth $1,710,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Gibraltar Industries Stock Up 1.0 %

ROCK stock opened at $70.02 on Thursday. Gibraltar Industries, Inc. has a 52 week low of $61.92 and a 52 week high of $87.40. The company has a fifty day simple moving average of $69.70 and a two-hundred day simple moving average of $69.98. The firm has a market capitalization of $2.12 billion, a P/E ratio of 19.45 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, analysts anticipate that Gibraltar Industries, Inc. will post 4.18 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.