First Eagle Investment Management LLC Raises Stock Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

First Eagle Investment Management LLC raised its position in Gibraltar Industries, Inc. (NASDAQ:ROCK – Get Rating) by 101.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,506 shares of the construction company’s stock after buying an additional 8,300 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.05% of Gibraltar Industries worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Gibraltar Industries by 143.9% in the fourth quarter. Victory Capital Management Inc. now owns 935,976 shares of the construction company’s stock valued at $62,411,000 after purchasing an additional 552,274 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Gibraltar Industries in the fourth quarter valued at approximately $12,528,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Gibraltar Industries in the fourth quarter valued at approximately $11,989,000. Wellington Management Group LLP increased its holdings in shares of Gibraltar Industries by 7.7% in the third quarter. Wellington Management Group LLP now owns 1,625,771 shares of the construction company’s stock valued at $113,235,000 after purchasing an additional 116,742 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Gibraltar Industries by 104.1% in the second quarter. Morgan Stanley now owns 206,282 shares of the construction company’s stock valued at $15,741,000 after purchasing an additional 105,209 shares during the period. Institutional investors own 97.93% of the company’s stock.

Gibraltar Industries stock traded up $0.25 during trading hours on Friday, hitting $38.57. The stock had a trading volume of 192,778 shares, compared to its average volume of 199,980. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 1.04. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.27 and a beta of 1.08. Gibraltar Industries, Inc. has a 1-year low of $36.86 and a 1-year high of $81.58. The stock’s fifty day moving average is $42.93 and its two-hundred day moving average is $56.19.

Gibraltar Industries (NASDAQ:ROCK – Get Rating) last posted its earnings results on Wednesday, May 4th. The construction company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The company had revenue of $317.90 million for the quarter, compared to analyst estimates of $307.88 million. Gibraltar Industries had a return on equity of 11.55% and a net margin of 5.72%. Gibraltar Industries’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 3.3 EPS for the current year.

ROCK has been the topic of a number of recent analyst reports. TheStreet lowered Gibraltar Industries from a “b-” rating to a “c+” rating in a report on Tuesday, February 8th. KeyCorp dropped their price objective on Gibraltar Industries from $85.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st. Zacks Investment Research raised Gibraltar Industries from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a report on Tuesday. Finally, StockNews.com initiated coverage on Gibraltar Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Gibraltar Industries Profile (Get Rating)

Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. 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.

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