Ameriprise Financial Inc. Trims Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Ameriprise Financial Inc. reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,938 shares of the construction company's stock after selling 23,352 shares during the quarter. Ameriprise Financial Inc. owned about 0.29% of Gibraltar Industries worth $5,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Gibraltar Industries by 645.1% in the fourth quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock valued at $31,000 after purchasing an additional 458 shares during the period. Smartleaf Asset Management LLC increased its stake in Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock valued at $42,000 after purchasing an additional 530 shares during the period. Atticus Wealth Management LLC acquired a new position in Gibraltar Industries in the fourth quarter valued at $53,000. KBC Group NV increased its stake in Gibraltar Industries by 50.2% in the fourth quarter. KBC Group NV now owns 1,436 shares of the construction company's stock valued at $85,000 after purchasing an additional 480 shares during the period. Finally, Quarry LP increased its stake in Gibraltar Industries by 41.5% in the fourth quarter. Quarry LP now owns 1,865 shares of the construction company's stock valued at $110,000 after purchasing an additional 547 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Gibraltar Industries Stock Performance

NASDAQ ROCK traded up $0.14 during trading on Thursday, reaching $59.38. The company's stock had a trading volume of 174,661 shares, compared to its average volume of 229,327. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 13.28 and a beta of 1.30. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $81.90. The business's fifty day moving average price is $56.66 and its 200-day moving average price is $61.61.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. The business had revenue of $290.02 million for the quarter, compared to the consensus estimate of $296.77 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Insider Activity

In other Gibraltar Industries news, Director James B. Nish sold 2,670 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $57.58, for a total transaction of $153,738.60. Following the transaction, the director now directly owns 13,148 shares in the company, valued at approximately $757,061.84. This represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Gibraltar Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

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.