Van ECK Associates Corp cut its position in Gibraltar Industries Inc (NASDAQ:ROCK) by 29.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,945 shares of the construction company’s stock after selling 9,359 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Gibraltar Industries worth $781,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Laurion Capital Management LP acquired a new position in shares of Gibraltar Industries in the 3rd quarter worth approximately $201,000. Ibex Investors LLC acquired a new position in shares of Gibraltar Industries in the 3rd quarter worth approximately $201,000. Amalgamated Bank acquired a new position in shares of Gibraltar Industries in the 3rd quarter worth approximately $211,000. PNC Financial Services Group Inc. grew its stake in shares of Gibraltar Industries by 99.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,849 shares of the construction company’s stock worth $173,000 after purchasing an additional 2,418 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Gibraltar Industries in the 3rd quarter worth approximately $227,000.
Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of Gibraltar Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 22nd. Zacks Investment Research cut shares of Gibraltar Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. ValuEngine raised shares of Gibraltar Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, Sidoti assumed coverage on shares of Gibraltar Industries in a research note on Tuesday, January 8th. They issued a “neutral” rating and a $40.00 price objective on the stock.
Shares of ROCK opened at $39.55 on Thursday. The company has a market capitalization of $1.27 billion, a PE ratio of 18.48 and a beta of 1.53. Gibraltar Industries Inc has a 12-month low of $31.96 and a 12-month high of $49.10.
Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Thursday, February 21st. The construction company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $240.91 million for the quarter, compared to the consensus estimate of $244.45 million. Gibraltar Industries had a net margin of 6.37% and a return on equity of 12.23%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Research analysts expect that Gibraltar Industries Inc will post 2.52 earnings per share for the current fiscal year.
About Gibraltar Industries
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.
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