Bailard Inc. Acquires 6,753 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Bailard Inc. increased its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 192.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,253 shares of the construction company's stock after purchasing an additional 6,753 shares during the period. Bailard Inc.'s holdings in Gibraltar Industries were worth $601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Gibraltar Industries in the fourth quarter valued at $892,000. Raymond James Financial Inc. acquired a new position in Gibraltar Industries in the fourth quarter worth $1,131,000. PNC Financial Services Group Inc. boosted its stake in Gibraltar Industries by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company's stock worth $200,000 after purchasing an additional 228 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gibraltar Industries by 75.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,549 shares of the construction company's stock worth $739,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Gibraltar Industries by 0.7% in the fourth quarter. Swiss National Bank now owns 59,900 shares of the construction company's stock worth $3,528,000 after purchasing an additional 400 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 Trading Down 0.3%

Shares of ROCK traded down $0.21 during trading hours on Friday, hitting $63.32. 196,803 shares of the stock traded hands, compared to its average volume of 235,702. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $81.90. The firm has a market capitalization of $1.87 billion, a PE ratio of 14.56 and a beta of 1.32. The business has a fifty day moving average of $60.44 and a 200-day moving average of $59.81.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) 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 analyst estimates of $296.77 million. Gibraltar Industries had a return on equity of 13.39% and a net margin of 10.22%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, equities research analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James B. Nish sold 1,172 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $58.21, for a total value of $68,222.12. Following the completion of the sale, the director owned 11,976 shares in the company, valued at approximately $697,122.96. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

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.