Gibraltar Industries, Inc. $ROCK Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S drastically reduced its stake in Gibraltar Industries by 89%, now owning just 829 shares worth $49,000.
• Despite a year-over-year revenue increase of 13.1%, Gibraltar Industries reported earnings of $1.13 per share, missing estimates by $0.03.
• Institutional investors control 98.39% of Gibraltar Industries' stock, indicating strong institutional interest in the company.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 89.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 829 shares of the construction company's stock after selling 6,674 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Gibraltar Industries were worth $49,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Gibraltar Industries by 3.2% during the first 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. boosted its holdings in shares of Gibraltar Industries by 42.8% during 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of Gibraltar Industries by 63.1% during 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 last quarter. SG Americas Securities LLC boosted its holdings in shares of Gibraltar Industries by 215.6% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Gibraltar Industries by 5.4% during 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 last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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 Saturday, August 2nd.

Gibraltar Industries Stock Down 2.3%

NASDAQ:ROCK traded down $1.47 on Friday, hitting $62.59. The stock had a trading volume of 259,491 shares, compared to its average volume of 251,633. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.97 and a beta of 1.26. The company has a fifty day moving average price of $62.75 and a two-hundred day moving average price of $60.48. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The business had revenue of $309.50 million during the quarter, compared to analyst estimates of $381.40 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The company's revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share 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.