Gibraltar Industries, Inc. (NASDAQ:ROCK) Stake Boosted by Martingale Asset Management L P

Martingale Asset Management L P grew its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,250 shares of the construction company’s stock after acquiring an additional 400 shares during the period. Martingale Asset Management L P’s holdings in Gibraltar Industries were worth $3,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ROCK. Texas Permanent School Fund Corp lifted its stake in shares of Gibraltar Industries by 27.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after purchasing an additional 7,369 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at $770,000. Swedbank AB lifted its stake in shares of Gibraltar Industries by 34.1% in the 2nd quarter. Swedbank AB now owns 283,251 shares of the construction company’s stock valued at $19,417,000 after purchasing an additional 71,951 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at $584,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Gibraltar Industries by 47.6% in the 2nd quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 5,842 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd.

Gibraltar Industries Price Performance

Gibraltar Industries stock opened at $72.44 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 19.94 and a beta of 1.14. Gibraltar Industries, Inc. has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The firm has a fifty day moving average price of $69.55 and a two-hundred day moving average price of $70.17.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The firm had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The business’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

About Gibraltar Industries

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.