Swedbank AB Lowers Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Swedbank AB lowered its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,076 shares of the construction company’s stock after selling 16,175 shares during the quarter. Swedbank AB owned about 0.88% of Gibraltar Industries worth $18,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Gibraltar Industries in the second quarter worth about $39,000. GAMMA Investing LLC grew its stake in shares of Gibraltar Industries by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares during the last quarter. nVerses Capital LLC bought a new position in Gibraltar Industries during the 2nd quarter valued at approximately $55,000. Quarry LP raised its stake in Gibraltar Industries by 428.9% during the second quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after buying an additional 802 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in Gibraltar Industries by 92.1% in the second quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock worth $91,000 after acquiring an additional 637 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK opened at $67.18 on Friday. The firm’s 50 day moving average price is $68.21 and its 200-day moving average price is $71.11. Gibraltar Industries, Inc. has a 52-week low of $59.66 and a 52-week high of $87.40. The company has a market cap of $2.05 billion, a PE ratio of 17.82 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, July 31st. The construction company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.08). The business had revenue of $353.00 million during the quarter, compared to the consensus estimate of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. On average, analysts forecast that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday.

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.