Bank of New York Mellon Corp Has $14.07 Million Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Bank of New York Mellon Corp decreased its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,871 shares of the construction company's stock after selling 141,816 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Gibraltar Industries worth $14,071,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of Gibraltar Industries during the fourth quarter valued at approximately $892,000. Raymond James Financial Inc. acquired a new stake in Gibraltar Industries during the 4th quarter worth about $1,131,000. PNC Financial Services Group Inc. boosted its stake in Gibraltar Industries by 7.2% in the 4th 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gibraltar Industries by 75.5% in the 4th 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 during the period. Finally, Swiss National Bank boosted its stake in Gibraltar Industries by 0.7% in the 4th 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 during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Gibraltar Industries news, Director James B. Nish sold 2,670 shares of Gibraltar Industries stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $57.58, for a total transaction of $153,738.60. Following the sale, the director owned 13,148 shares in the company, valued at $757,061.84. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company's stock.

Gibraltar Industries Price Performance

NASDAQ:ROCK traded up $1.23 during mid-day trading on Wednesday, reaching $65.62. The stock had a trading volume of 151,157 shares, compared to its average volume of 235,716. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $81.90. The business's 50 day moving average is $60.49 and its 200 day moving average is $59.88. The stock has a market cap of $1.94 billion, a P/E ratio of 15.09 and a beta of 1.32.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.86 by $0.09. Gibraltar Industries had a return on equity of 13.39% and a net margin of 10.22%. The company had revenue of $290.02 million for the quarter, compared to the consensus estimate of $296.77 million. During the same quarter last year, the company posted $0.80 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

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.