Rhumbline Advisers Cuts Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Rhumbline Advisers cut its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 2.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,220 shares of the construction company’s stock after selling 2,000 shares during the quarter. Rhumbline Advisers owned 0.31% of Gibraltar Industries worth $5,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cascade Investment Advisors Inc. grew its holdings in shares of Gibraltar Industries by 1.6% in the first quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company’s stock valued at $1,225,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Gibraltar Industries by 9,467.7% in the first quarter. GAMMA Investing LLC now owns 47,456 shares of the construction company’s stock valued at $2,784,000 after purchasing an additional 46,960 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Gibraltar Industries by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company’s stock valued at $90,769,000 after purchasing an additional 397,313 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Gibraltar Industries in the fourth quarter valued at $423,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Gibraltar Industries by 4.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,581 shares of the construction company’s stock valued at $4,570,000 after purchasing an additional 3,650 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gibraltar Industries

In related news, Director James B. Nish sold 2,670 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $57.58, for a total value of $153,738.60. Following the completion of the transaction, the director now directly owns 13,148 shares of the company’s stock, valued at approximately $757,061.84. This represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Gibraltar Industries Stock Down 0.1%

NASDAQ ROCK opened at $59.00 on Friday. The company has a fifty day moving average of $56.93 and a two-hundred day moving average of $60.80. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.20 and a beta of 1.34. Gibraltar Industries, Inc. has a 52 week low of $48.96 and a 52 week high of $81.90.

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