Assenagon Asset Management S.A. Raises Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Assenagon Asset Management S.A. raised its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 297,354 shares of the construction company's stock after purchasing an additional 6,082 shares during the quarter. Assenagon Asset Management S.A. owned 1.00% of Gibraltar Industries worth $17,443,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of Gibraltar Industries by 645.1% in the fourth quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock worth $31,000 after acquiring an additional 458 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Gibraltar Industries by 296.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock worth $42,000 after purchasing an additional 530 shares during the last quarter. GAMMA Investing LLC lifted its stake in Gibraltar Industries by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock valued at $47,000 after buying an additional 313 shares in the last quarter. Quarry LP increased its stake in Gibraltar Industries by 41.5% during the 4th quarter. Quarry LP now owns 1,865 shares of the construction company's stock worth $110,000 after buying an additional 547 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Gibraltar Industries during the 4th quarter worth approximately $111,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gibraltar Industries

In other news, Director James B. Nish sold 2,670 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $57.58, for a total value of $153,738.60. Following the completion of the sale, the director now owns 13,148 shares of the company's stock, valued at $757,061.84. This represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Gibraltar Industries Trading Down 3.1%

NASDAQ:ROCK traded down $1.80 during trading hours on Friday, hitting $57.20. 178,083 shares of the stock were exchanged, compared to its average volume of 229,332. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90. The firm's fifty day moving average price is $57.05 and its 200 day moving average price is $60.70. The company has a market cap of $1.69 billion, a P/E ratio of 12.80 and a beta of 1.34.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.09. The company had revenue of $290.02 million during 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%. Gibraltar Industries's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.