Wellington Management Group LLP Grows Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Wellington Management Group LLP boosted its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 34.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,541,070 shares of the construction company’s stock after purchasing an additional 397,313 shares during the period. Wellington Management Group LLP owned approximately 5.08% of Gibraltar Industries worth $90,769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROCK. Smartleaf Asset Management LLC raised its position in shares of Gibraltar Industries by 296.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock worth $42,000 after buying an additional 530 shares during the period. Atticus Wealth Management LLC acquired a new stake in Gibraltar Industries during the fourth quarter worth about $53,000. KBC Group NV raised its holdings in shares of Gibraltar Industries by 50.2% in the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after purchasing an additional 480 shares during the period. Quarry LP lifted its stake in shares of Gibraltar Industries by 33.3% in the 3rd quarter. Quarry LP now owns 1,318 shares of the construction company’s stock valued at $92,000 after purchasing an additional 329 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Gibraltar Industries during the 4th quarter worth about $117,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Gibraltar Industries Trading Down 1.9 %

Shares of NASDAQ ROCK opened at $52.51 on Friday. The stock has a fifty day moving average price of $62.24 and a 200 day moving average price of $65.26. Gibraltar Industries, Inc. has a 12-month low of $48.96 and a 12-month high of $81.90. The company has a market cap of $1.56 billion, a P/E ratio of 11.75 and a beta of 1.22.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $302.06 million during the quarter, compared to analyst estimates of $307.93 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 20th.

Gibraltar Industries Company 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.