Allspring Global Investments Holdings LLC Purchases 81,401 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Allspring Global Investments Holdings LLC boosted its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 648,054 shares of the construction company’s stock after purchasing an additional 81,401 shares during the period. Allspring Global Investments Holdings LLC owned about 2.13% of Gibraltar Industries worth $45,318,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ROCK. Vanguard Group Inc. raised its holdings in Gibraltar Industries by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock worth $222,717,000 after purchasing an additional 60,950 shares during the period. O Shaughnessy Asset Management LLC increased its position in Gibraltar Industries by 110.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,503 shares of the construction company’s stock worth $1,168,000 after buying an additional 7,627 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Gibraltar Industries by 27.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock worth $2,331,000 after buying an additional 7,369 shares during the period. Intech Investment Management LLC purchased a new position in shares of Gibraltar Industries during the 2nd quarter valued at about $770,000. Finally, NBW Capital LLC bought a new position in shares of Gibraltar Industries during the 1st quarter valued at approximately $2,106,000. 98.39% of the stock is currently owned by institutional investors.

Gibraltar Industries Stock Performance

ROCK opened at $66.00 on Wednesday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 17.74 and a beta of 1.14. The firm’s fifty day moving average is $68.35 and its 200 day moving average is $70.84. 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 posted its quarterly earnings results on Wednesday, July 31st. The construction company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business had revenue of $353.00 million for the quarter, compared to the consensus estimate of $373.60 million. During the same period in the prior year, the business earned $1.18 earnings per share. Gibraltar Industries’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts predict that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

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.