Cascade Investment Advisors Inc. Acquires 5,690 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Cascade Investment Advisors Inc. increased its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 50.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,970 shares of the construction company’s stock after purchasing an additional 5,690 shares during the period. Cascade Investment Advisors Inc.’s holdings in Gibraltar Industries were worth $1,367,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. grew its holdings in Gibraltar Industries by 92.5% during the first quarter. Assenagon Asset Management S.A. now owns 314,911 shares of the construction company’s stock worth $25,360,000 after purchasing an additional 151,298 shares during the period. Bfsg LLC bought a new position in Gibraltar Industries during the first quarter worth about $132,000. Wesbanco Bank Inc. acquired a new stake in Gibraltar Industries during the first quarter worth approximately $1,452,000. Hennion & Walsh Asset Management Inc. lifted its position in Gibraltar Industries by 49.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,099 shares of the construction company’s stock worth $974,000 after acquiring an additional 4,008 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in Gibraltar Industries by 1,755.2% during the first quarter. Contravisory Investment Management Inc. now owns 3,228 shares of the construction company’s stock worth $260,000 after acquiring an additional 3,054 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Trading Down 2.3 %

ROCK stock traded down $1.66 during mid-day trading on Thursday, hitting $71.85. 175,900 shares of the company were exchanged, compared to its average volume of 170,131. The business has a 50 day simple moving average of $75.05 and a 200-day simple moving average of $75.99. The stock has a market capitalization of $2.19 billion, a PE ratio of 19.31 and a beta of 1.20. Gibraltar Industries, Inc. has a 1-year low of $51.36 and a 1-year high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The company had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that Gibraltar Industries, Inc. will post 4.79 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th.

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.