Janus Henderson Group PLC Trims Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Janus Henderson Group PLC trimmed its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 15.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 336,989 shares of the construction company’s stock after selling 61,194 shares during the period. Janus Henderson Group PLC owned approximately 1.11% of Gibraltar Industries worth $27,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Gibraltar Industries by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,888,642 shares of the construction company’s stock worth $232,622,000 after purchasing an additional 68,728 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Gibraltar Industries by 9.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock valued at $50,120,000 after acquiring an additional 56,126 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Gibraltar Industries by 2.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 318,167 shares of the construction company’s stock valued at $25,129,000 after acquiring an additional 7,677 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Gibraltar Industries by 92.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 314,911 shares of the construction company’s stock worth $25,360,000 after acquiring an additional 151,298 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Gibraltar Industries by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 168,582 shares of the construction company’s stock worth $13,576,000 after purchasing an additional 2,526 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Gibraltar Industries Price Performance

Shares of ROCK stock traded down $8.52 during trading on Wednesday, reaching $71.69. The company’s stock had a trading volume of 83,877 shares, compared to its average volume of 170,060. Gibraltar Industries, Inc. has a 1-year low of $59.66 and a 1-year high of $87.40. The stock’s 50-day moving average price is $72.39 and its 200 day moving average price is $75.75. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.70 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The business had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.