Wedge Capital Management L L P NC reduced its position in shares of Gibraltar Industries Inc. (NASDAQ:ROCK) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 47,375 shares of the company’s stock after selling 2,200 shares during the period. Wedge Capital Management L L P NC’s holdings in Gibraltar Industries were worth $1,496,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROCK. Capstone Asset Management Co. boosted its position in shares of Gibraltar Industries by 2.9% in the second quarter. Capstone Asset Management Co. now owns 8,979 shares of the company’s stock worth $283,000 after buying an additional 250 shares during the period. Prudential Financial Inc. boosted its stake in Gibraltar Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 72,785 shares of the company’s stock worth $2,082,000 after buying an additional 2,000 shares during the last quarter. American Century Companies Inc. boosted its stake in Gibraltar Industries by 7.8% in the second quarter. American Century Companies Inc. now owns 38,561 shares of the company’s stock worth $1,217,000 after buying an additional 2,774 shares during the last quarter. Hancock Holding Co. boosted its stake in Gibraltar Industries by 13.6% in the first quarter. Hancock Holding Co. now owns 31,551 shares of the company’s stock worth $902,000 after buying an additional 3,775 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Gibraltar Industries by 130.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the company’s stock worth $295,000 after buying an additional 5,296 shares during the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gibraltar Industries Inc. (NASDAQ:ROCK) traded down 0.05% during mid-day trading on Monday, hitting $37.35. 130,566 shares of the company traded hands. The stock has a market capitalization of $1.18 billion, a PE ratio of 31.90 and a beta of 2.25. Gibraltar Industries Inc. has a 1-year low of $18.23 and a 1-year high of $40.00. The firm’s 50 day moving average price is $37.42 and its 200-day moving average price is $32.95.
Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The company had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $271.27 million. Gibraltar Industries had a net margin of 3.44% and a return on equity of 11.17%. Gibraltar Industries’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, equities research analysts forecast that Gibraltar Industries Inc. will post $1.45 EPS for the current year.
A number of analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Gibraltar Industries in a research note on Friday. Zacks Investment Research cut shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a research note on Thursday.
About Gibraltar Industries
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
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