Arizona State Retirement System lifted its holdings in shares of Gibraltar Industries Inc (NASDAQ:ROCK) by 225.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,260 shares of the construction company’s stock after acquiring an additional 36,909 shares during the quarter. Arizona State Retirement System owned 0.17% of Gibraltar Industries worth $1,758,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Gibraltar Industries by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,426,842 shares of the construction company’s stock worth $75,596,000 after buying an additional 34,097 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Gibraltar Industries by 22.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 430,824 shares of the construction company’s stock worth $14,217,000 after acquiring an additional 78,500 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Gibraltar Industries by 2.0% in the third quarter. Epoch Investment Partners Inc. now owns 366,580 shares of the construction company’s stock worth $11,419,000 after acquiring an additional 7,353 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Gibraltar Industries by 19.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 195,718 shares of the construction company’s stock worth $6,459,000 after acquiring an additional 32,468 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in shares of Gibraltar Industries by 57.8% in the third quarter. Systematic Financial Management LP now owns 141,685 shares of the construction company’s stock worth $4,413,000 after acquiring an additional 51,880 shares during the period.
A number of equities analysts have recently commented on the company. BidaskClub raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, February 26th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $39.00 price target on shares of Gibraltar Industries in a report on Friday, November 17th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.00.
Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. Gibraltar Industries had a return on equity of 11.14% and a net margin of 6.34%. The firm had revenue of $258.11 million during the quarter, compared to analyst estimates of $232.50 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. research analysts anticipate that Gibraltar Industries Inc will post 2.06 EPS for the current fiscal year.
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About Gibraltar Industries
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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