BlackRock Inc. boosted its stake in shares of Gibraltar Industries Inc (NASDAQ:ROCK) by 5.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,317,060 shares of the construction company’s stock after buying an additional 229,627 shares during the quarter. BlackRock Inc. owned 0.13% of Gibraltar Industries worth $161,889,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in Gibraltar Industries by 643.8% during the second quarter. SG Americas Securities LLC now owns 25,579 shares of the construction company’s stock valued at $959,000 after purchasing an additional 22,140 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Gibraltar Industries by 2.0% in the second quarter. Rhumbline Advisers now owns 82,465 shares of the construction company’s stock valued at $3,092,000 after acquiring an additional 1,622 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Gibraltar Industries in the first quarter valued at about $230,000. Royce & Associates LP lifted its position in shares of Gibraltar Industries by 64.8% in the second quarter. Royce & Associates LP now owns 259,173 shares of the construction company’s stock valued at $9,719,000 after acquiring an additional 101,875 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Gibraltar Industries by 2.6% in the first quarter. Principal Financial Group Inc. now owns 243,352 shares of the construction company’s stock valued at $8,237,000 after acquiring an additional 6,231 shares in the last quarter.
Shares of Gibraltar Industries stock opened at $45.75 on Friday. Gibraltar Industries Inc has a 52 week low of $29.50 and a 52 week high of $49.10. The stock has a market capitalization of $1.47 billion, a PE ratio of 26.78 and a beta of 1.79. The company has a current ratio of 2.89, a quick ratio of 2.32 and a debt-to-equity ratio of 0.37.
Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Thursday, July 26th. The construction company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.16. The business had revenue of $266.04 million for the quarter, compared to the consensus estimate of $261.93 million. Gibraltar Industries had a return on equity of 12.37% and a net margin of 7.59%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. equities research analysts anticipate that Gibraltar Industries Inc will post 2.08 EPS for the current fiscal year.
ROCK has been the topic of several research analyst reports. BidaskClub downgraded Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 23rd. ValuEngine upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 18th. Finally, Zacks Investment Research downgraded Gibraltar Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $42.00.
About Gibraltar Industries
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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