Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,041,571 shares of the construction company’s stock after selling 81,430 shares during the period. Wellington Management Group LLP’s holdings in Gibraltar Industries were worth $82,263,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in shares of Gibraltar Industries by 122.0% during the 4th quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock worth $64,766,000 after purchasing an additional 450,665 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Gibraltar Industries by 9.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock valued at $50,120,000 after acquiring an additional 56,126 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Gibraltar Industries by 2.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 318,167 shares of the construction company’s stock valued at $25,129,000 after acquiring an additional 7,677 shares during the last quarter. Invesco Ltd. raised its holdings in Gibraltar Industries by 72.2% in the 3rd quarter. Invesco Ltd. now owns 245,220 shares of the construction company’s stock valued at $16,555,000 after acquiring an additional 102,848 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Gibraltar Industries by 7.6% in the 4th quarter. Nordea Investment Management AB now owns 113,760 shares of the construction company’s stock valued at $9,005,000 after acquiring an additional 8,055 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th.

Gibraltar Industries Trading Up 0.8 %

ROCK stock opened at $69.70 on Friday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 18.74 and a beta of 1.19. Gibraltar Industries, Inc. has a 12 month low of $57.28 and a 12 month high of $87.40. The firm has a 50-day moving average of $72.28 and a two-hundred day moving average of $76.53.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. As a group, equities analysts forecast that Gibraltar Industries, Inc. will post 4.79 earnings per share for the current year.

Gibraltar Industries 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.