Silvercrest Asset Management Group LLC Cuts Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Silvercrest Asset Management Group LLC trimmed its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,143 shares of the construction company’s stock after selling 51,282 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Gibraltar Industries were worth $45,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after buying an additional 458 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Gibraltar Industries by 296.1% during 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 last quarter. Atticus Wealth Management LLC purchased a new position in Gibraltar Industries during the 4th quarter worth $53,000. KBC Group NV grew its stake in Gibraltar Industries by 50.2% during the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after buying an additional 480 shares during the last quarter. Finally, Quarry LP grew its stake in Gibraltar Industries by 41.5% during the 4th quarter. Quarry LP now owns 1,865 shares of the construction company’s stock worth $110,000 after buying an additional 547 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Price Performance

Shares of ROCK stock opened at $61.23 on Friday. The stock’s fifty day moving average price is $57.50 and its 200 day moving average price is $62.26. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 13.70 and a beta of 1.30. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. The business had revenue of $290.02 million for the quarter, compared to the consensus estimate of $296.77 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, equities research analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Activity

In related news, Director James B. Nish sold 1,172 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $58.21, for a total value of $68,222.12. Following the completion of the transaction, the director now owns 11,976 shares of the company’s stock, valued at approximately $697,122.96. This represents a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

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.