Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Acquired by State Street Corp

State Street Corp lifted its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,278,283 shares of the construction company’s stock after purchasing an additional 56,008 shares during the period. State Street Corp owned about 4.21% of Gibraltar Industries worth $89,390,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ROCK. Farther Finance Advisors LLC lifted its position in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after purchasing an additional 277 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Gibraltar Industries in the second quarter worth $39,000. GAMMA Investing LLC increased its stake in shares of Gibraltar Industries by 30.6% in the third 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 stake in shares of Gibraltar Industries in the second quarter worth $55,000. Finally, Quarry LP increased its stake in shares of Gibraltar Industries by 428.9% in the second quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after buying an additional 802 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Gibraltar Industries Price Performance

ROCK stock opened at $66.22 on Tuesday. Gibraltar Industries, Inc. has a 1-year low of $61.92 and a 1-year high of $87.40. The firm has a fifty day moving average price of $69.49 and a two-hundred day moving average price of $69.83. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 18.39 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Gibraltar Industries

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.