Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,505 shares of the construction company’s stock after selling 154 shares during the quarter. Arizona State Retirement System’s holdings in Gibraltar Industries were worth $672,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Millburn Ridgefield Corp acquired a new stake in Gibraltar Industries in the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Gibraltar Industries in the 3rd quarter valued at about $28,000. Covestor Ltd lifted its position in shares of Gibraltar Industries by 13,540.0% during the third quarter. Covestor Ltd now owns 682 shares of the construction company’s stock worth $46,000 after purchasing an additional 677 shares during the last quarter. PrairieView Partners LLC grew its stake in Gibraltar Industries by 100.0% in the third quarter. PrairieView Partners LLC now owns 816 shares of the construction company’s stock worth $55,000 after purchasing an additional 408 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Gibraltar Industries in the first quarter valued at about $67,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Gibraltar Industries Price Performance

ROCK stock opened at $71.08 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 19.80 and a beta of 1.17. Gibraltar Industries, Inc. has a 1-year low of $48.01 and a 1-year high of $87.40. The firm has a fifty day moving average price of $78.16 and a two-hundred day moving average price of $74.31.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The business had revenue of $328.80 million for the quarter, compared to the consensus estimate of $331.40 million. During the same period in the prior year, the company earned $0.72 EPS. Gibraltar Industries’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, March 29th.

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.