Principal Financial Group Inc. Has $11 Million Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Principal Financial Group Inc. reduced its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,265 shares of the construction company’s stock after selling 6,182 shares during the period. Principal Financial Group Inc.’s holdings in Gibraltar Industries were worth $10,998,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Texas Permanent School Fund Corp boosted its position 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 Gibraltar Industries during the 2nd quarter valued at about $770,000. FMR LLC increased its holdings in shares of Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock valued at $50,816,000 after purchasing an additional 685,462 shares during the period. Geode Capital Management LLC grew its stake in Gibraltar Industries by 4.1% in the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after purchasing an additional 32,950 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Gibraltar Industries in the 3rd quarter worth about $792,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Gibraltar Industries Trading Down 2.1 %

ROCK stock opened at $59.22 on Monday. The firm has a market cap of $1.80 billion, a PE ratio of 16.45 and a beta of 1.15. Gibraltar Industries, Inc. has a 1 year low of $59.05 and a 1 year high of $87.40. The company has a fifty day simple moving average of $68.11 and a 200 day simple moving average of $69.16.

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

Analyst Ratings Changes

Separately, StockNews.com cut Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 21st.

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.