Wells Fargo & Company MN decreased its stake in Gibraltar Industries (NASDAQ:ROCK) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,755 shares of the construction company’s stock after selling 23,695 shares during the period. Wells Fargo & Company MN’s holdings in Gibraltar Industries were worth $3,062,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. First Trust Advisors LP bought a new position in Gibraltar Industries in the 4th quarter valued at approximately $480,000. CNA Financial Corp lifted its stake in Gibraltar Industries by 11.0% in the 4th quarter. CNA Financial Corp now owns 46,742 shares of the construction company’s stock valued at $1,542,000 after purchasing an additional 4,645 shares during the last quarter. California Public Employees Retirement System lifted its stake in Gibraltar Industries by 8.5% in the 4th quarter. California Public Employees Retirement System now owns 32,118 shares of the construction company’s stock valued at $1,060,000 after purchasing an additional 2,518 shares during the last quarter. Anchor Capital Advisors LLC bought a new position in Gibraltar Industries in the 4th quarter valued at approximately $980,000. Finally, Teacher Retirement System of Texas bought a new position in Gibraltar Industries in the 4th quarter valued at approximately $337,000.
Several brokerages recently commented on ROCK. BidaskClub downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Gibraltar Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, February 26th.
Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The business had revenue of $258.11 million during the quarter, compared to the consensus estimate of $232.50 million. Gibraltar Industries had a net margin of 6.34% and a return on equity of 11.14%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. research analysts forecast that Gibraltar Industries will post 2.06 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Wells Fargo & Company MN Has $3.06 Million Position in Gibraltar Industries (ROCK)” was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3342898/wells-fargo-company-mn-has-3-06-million-position-in-gibraltar-industries-rock.html.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.
Want to see what other hedge funds are holding ROCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gibraltar Industries (NASDAQ:ROCK).
Receive News & Ratings for Gibraltar Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries and related companies with MarketBeat.com's FREE daily email newsletter.