State of Alaska Department of Revenue Reduces Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

State of Alaska Department of Revenue reduced its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,812 shares of the construction company’s stock after selling 478 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Gibraltar Industries worth $986,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ROCK. Sterling Capital Management LLC lifted its stake in 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 acquiring an additional 458 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Gibraltar Industries by 296.1% in the 4th 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. GAMMA Investing LLC grew its stake in Gibraltar Industries by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company’s stock worth $47,000 after buying an additional 313 shares during the last quarter. Quarry LP grew its stake in Gibraltar Industries by 41.5% during the 4th quarter. Quarry LP now owns 1,865 shares of the construction company’s stock worth $110,000 after buying an additional 547 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Gibraltar Industries in the 4th quarter valued at approximately $111,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Activity

In other Gibraltar Industries news, Director James B. Nish sold 1,172 shares of the business’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 sale, the director now owns 11,976 shares of the company’s stock, valued at approximately $697,122.96. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Gibraltar Industries Stock Performance

Shares of ROCK stock opened at $60.31 on Friday. The stock has a fifty day moving average price of $57.98 and a 200 day moving average price of $59.90. The stock has a market cap of $1.78 billion, a PE ratio of 13.86 and a beta of 1.34. Gibraltar Industries, Inc. has a 1 year low of $48.96 and a 1 year high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share 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 return on equity of 13.39% and a net margin of 10.22%. Gibraltar Industries’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. As a group, equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Analysts Set New Price Targets

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

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.