Acadian Asset Management LLC Invests $444,000 in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Acadian Asset Management LLC bought a new stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,499 shares of the construction company’s stock, valued at approximately $444,000.

Several other institutional investors have also added to or reduced their stakes in ROCK. Gallacher Capital Management LLC acquired a new position in shares of Gibraltar Industries in the 2nd quarter worth approximately $301,000. Arizona State Retirement System raised its stake in Gibraltar Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock worth $584,000 after buying an additional 158 shares during the last quarter. TD Asset Management Inc lifted its holdings in Gibraltar Industries by 18.6% in the second quarter. TD Asset Management Inc now owns 12,100 shares of the construction company’s stock valued at $829,000 after buying an additional 1,900 shares during the period. nVerses Capital LLC acquired a new position in Gibraltar Industries in the second quarter valued at $55,000. Finally, Commonwealth Equity Services LLC boosted its position in Gibraltar Industries by 67.3% during the second quarter. Commonwealth Equity Services LLC now owns 7,533 shares of the construction company’s stock valued at $516,000 after acquiring an additional 3,029 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Gibraltar Industries Stock Performance

Shares of ROCK opened at $71.96 on Thursday. The firm has a market cap of $2.19 billion, a PE ratio of 19.37 and a beta of 1.14. Gibraltar Industries, Inc. has a 52-week low of $59.66 and a 52-week high of $87.40. The business’s 50 day moving average price is $69.93 and its two-hundred day moving average price is $72.18.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The company had revenue of $353.00 million for the quarter, compared to analyst estimates of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 EPS. Research analysts predict that Gibraltar Industries, Inc. will post 4.6 EPS for the current fiscal 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.