AlphaQuest LLC Sells 25,349 Shares of Gibraltar Industries, Inc. $ROCK

Key Points

• AlphaQuest LLC significantly reduced its holdings in Gibraltar Industries by 93.8%, selling 25,349 shares and retaining only 1,674 shares, valued at approximately $98,000.
• Gibraltar Industries has been dropped from a "buy" to a "hold" rating by Wall Street Zen, indicating a less favorable outlook on the stock.
• In its latest earnings report, Gibraltar Industries reported earnings per share (EPS) of $1.13, falling short of the consensus estimate of $1.16, with earnings attributed to $309.50 million in revenue.

AlphaQuest LLC reduced its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 93.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,674 shares of the construction company's stock after selling 25,349 shares during the period. AlphaQuest LLC's holdings in Gibraltar Industries were worth $98,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Gibraltar Industries by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 167,692 shares of the construction company's stock worth $9,837,000 after acquiring an additional 5,201 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Gibraltar Industries by 42.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,813 shares of the construction company's stock worth $810,000 after purchasing an additional 4,142 shares during the period. GAMMA Investing LLC grew its position in Gibraltar Industries by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock worth $47,000 after purchasing an additional 313 shares during the period. SG Americas Securities LLC grew its position in Gibraltar Industries by 215.6% in the 1st quarter. SG Americas Securities LLC now owns 6,256 shares of the construction company's stock worth $367,000 after purchasing an additional 4,274 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Gibraltar Industries by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock worth $26,674,000 after purchasing an additional 23,308 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Trading Down 0.5%

Gibraltar Industries stock traded down $0.33 during mid-day trading on Friday, hitting $61.74. The stock had a trading volume of 146,158 shares, compared to its average volume of 262,957. The firm has a market capitalization of $1.82 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.92 and a beta of 1.26. Gibraltar Industries, Inc. has a one year low of $48.96 and a one year high of $74.97. The firm's 50 day moving average is $62.84 and its 200 day moving average is $60.52.

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

Analyst Upgrades and Downgrades

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

Gibraltar Industries Profile

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.