Wells Fargo & Company MN grew its position in Gibraltar Industries Inc (NASDAQ:ROCK) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 178,015 shares of the construction company’s stock after purchasing an additional 23,391 shares during the period. Wells Fargo & Company MN owned approximately 0.55% of Gibraltar Industries worth $7,640,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Americana Partners LLC acquired a new stake in Gibraltar Industries during the fourth quarter worth about $27,000. Point72 Hong Kong Ltd boosted its position in Gibraltar Industries by 149.8% during the fourth quarter. Point72 Hong Kong Ltd now owns 597 shares of the construction company’s stock worth $30,000 after purchasing an additional 358 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in Gibraltar Industries by 238.3% during the first quarter. Flagship Harbor Advisors LLC now owns 1,015 shares of the construction company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Private Capital Group LLC boosted its position in Gibraltar Industries by 278.5% during the first quarter. Private Capital Group LLC now owns 1,041 shares of the construction company’s stock worth $45,000 after purchasing an additional 766 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Gibraltar Industries by 151.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 984 shares of the construction company’s stock worth $50,000 after purchasing an additional 592 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. BidaskClub upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Friday, May 29th. ValuEngine downgraded Gibraltar Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Sidoti upgraded Gibraltar Industries from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Monday, March 23rd. Finally, KeyCorp reduced their price objective on Gibraltar Industries from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.67.
ROCK stock opened at $47.40 on Tuesday. The business has a fifty day moving average of $44.76 and a two-hundred day moving average of $47.77. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 21.84 and a beta of 1.32. Gibraltar Industries Inc has a 52-week low of $30.60 and a 52-week high of $56.58.
Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.09. Gibraltar Industries had a return on equity of 13.74% and a net margin of 6.62%. The business had revenue of $249.40 million during the quarter, compared to analysts’ expectations of $252.03 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Gibraltar Industries Inc will post 2.38 EPS for the current year.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.
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