Millennium Management LLC Purchases 13,284 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Millennium Management LLC increased its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 151,858 shares of the construction company’s stock after purchasing an additional 13,284 shares during the period. Millennium Management LLC owned approximately 0.50% of Gibraltar Industries worth $8,944,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Sterling Capital Management LLC lifted its position in shares of Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after buying an additional 458 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock valued at $42,000 after acquiring an additional 530 shares during the last quarter. Atticus Wealth Management LLC bought a new position in shares of Gibraltar Industries in the 4th quarter valued at about $53,000. KBC Group NV grew its holdings in Gibraltar Industries by 50.2% during the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after acquiring an additional 480 shares during the period. Finally, Quarry LP grew its stake in shares of Gibraltar Industries by 41.5% during the fourth quarter. Quarry LP now owns 1,865 shares of the construction company’s stock worth $110,000 after purchasing an additional 547 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st.

Gibraltar Industries Stock Performance

NASDAQ ROCK opened at $59.08 on Monday. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90. The business has a 50 day simple moving average of $56.98 and a 200 day simple moving average of $61.83. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 13.22 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. The company had revenue of $290.02 million during the quarter, compared to the consensus estimate of $296.77 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

Insider Buying and Selling at Gibraltar Industries

In other news, Director James B. Nish sold 1,172 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the completion of the transaction, the director now directly owns 11,976 shares of the company’s stock, valued at $697,122.96. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.