Maryland State Retirement & Pension System Sells 178 Shares of Gibraltar Industries, Inc. $ROCK

Maryland State Retirement & Pension System reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 2.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,667 shares of the construction company’s stock after selling 178 shares during the period. Maryland State Retirement & Pension System’s holdings in Gibraltar Industries were worth $511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hudson Edge Investment Partners Inc. purchased a new stake in Gibraltar Industries in the 2nd quarter worth approximately $495,000. State of Alaska Department of Revenue lifted its position in shares of Gibraltar Industries by 4.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 17,566 shares of the construction company’s stock worth $1,036,000 after purchasing an additional 754 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Gibraltar Industries by 89.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 57,922 shares of the construction company’s stock worth $3,417,000 after purchasing an additional 27,405 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Gibraltar Industries by 1.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 303,146 shares of the construction company’s stock worth $17,886,000 after purchasing an additional 5,792 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in Gibraltar Industries by 9.2% during the 2nd quarter. Central Pacific Bank Trust Division now owns 8,466 shares of the construction company’s stock valued at $499,000 after acquiring an additional 713 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Gibraltar Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Wall Street Zen downgraded shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gibraltar Industries in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Gibraltar Industries Stock Down 0.8%

ROCK opened at $63.55 on Tuesday. The firm has a 50 day moving average price of $62.45 and a 200-day moving average price of $60.14. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.00 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.03). Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The company had revenue of $309.50 million for the quarter, compared to analysts’ expectations of $381.40 million. During the same period in the previous year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share 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.