Bank of New York Mellon Corp Sells 11,116 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Bank of New York Mellon Corp reduced its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,859 shares of the construction company’s stock after selling 11,116 shares during the period. Bank of New York Mellon Corp owned 1.36% of Gibraltar Industries worth $28,507,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ROCK. Truist Financial Corp grew its holdings in shares of Gibraltar Industries by 3.3% in the fourth quarter. Truist Financial Corp now owns 47,671 shares of the construction company’s stock valued at $3,765,000 after purchasing an additional 1,518 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Gibraltar Industries by 35.5% in the 4th quarter. Van ECK Associates Corp now owns 36,346 shares of the construction company’s stock worth $2,871,000 after buying an additional 9,515 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Gibraltar Industries by 1.1% in the 4th quarter. Natixis Advisors L.P. now owns 18,326 shares of the construction company’s stock worth $1,447,000 after buying an additional 194 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Gibraltar Industries during the 4th quarter valued at about $873,000. Finally, Seizert Capital Partners LLC lifted its holdings in shares of Gibraltar Industries by 49.3% in the 4th quarter. Seizert Capital Partners LLC now owns 39,923 shares of the construction company’s stock valued at $3,153,000 after acquiring an additional 13,184 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd.

Gibraltar Industries Stock Performance

NASDAQ:ROCK opened at $66.81 on Wednesday. The firm has a market capitalization of $2.04 billion, a PE ratio of 17.96 and a beta of 1.15. The stock’s fifty day moving average is $70.07 and its 200 day moving average is $72.96. Gibraltar Industries, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.08). The firm had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. Equities analysts forecast that Gibraltar Industries, Inc. will post 4.6 EPS for the current year.

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.