Ieq Capital LLC Purchases New Shares in Gibraltar Industries, Inc. $ROCK

Key Points

• Ieq Capital LLC acquired 14,915 shares of Gibraltar Industries, valued at approximately $875,000, representing about 0.05% ownership of the company.
• Gibraltar Industries' stock opened at $60.63 with a market capitalization of $1.79 billion and a price-to-earnings ratio of 14.54.
• Wall Street analysts downgraded Gibraltar Industries from a "buy" to a "hold" rating, reflecting a shift in market sentiment.

Ieq Capital LLC purchased a new stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,915 shares of the construction company's stock, valued at approximately $875,000. Ieq Capital LLC owned about 0.05% of Gibraltar Industries at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Gibraltar Industries by 29.4% in the first quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock valued at $67,000 after buying an additional 261 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Gibraltar Industries by 40.6% in the first quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock valued at $59,000 after buying an additional 288 shares during the period. GAMMA Investing LLC lifted its holdings in Gibraltar Industries by 63.1% in the first quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock valued at $47,000 after buying an additional 313 shares during the period. Federated Hermes Inc. lifted its holdings in Gibraltar Industries by 1.4% in the first quarter. Federated Hermes Inc. now owns 22,289 shares of the construction company's stock valued at $1,307,000 after buying an additional 318 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its holdings in Gibraltar Industries by 1.6% in the first quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company's stock valued at $1,225,000 after buying an additional 320 shares during the period. 98.39% of the stock is owned by institutional investors.

Gibraltar Industries Stock Performance

Gibraltar Industries stock traded down $0.33 during mid-day trading on Friday, reaching $61.74. The company's stock had a trading volume of 146,158 shares, compared to its average volume of 205,570. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.95 and a beta of 1.26. Gibraltar Industries, Inc. has a 12 month low of $48.96 and a 12 month high of $74.97. The business's 50 day simple moving average is $62.86 and its 200 day simple moving average is $60.52.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The company had revenue of $309.50 million for the quarter, compared to analyst estimates of $381.40 million. During the same quarter in the prior year, the business posted $1.18 EPS. The business's quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Gibraltar Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

About Gibraltar Industries

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.