Connor Clark & Lunn Investment Management Ltd. Makes New $1.46 Million Investment in Gibraltar Industries, Inc. $ROCK

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 24,891 shares of Gibraltar Industries, Inc. for approximately $1,460,000, representing about 0.08% of the company.
• Other institutional investors have significantly increased their positions in Gibraltar Industries, with Wellington Management Group LLP raising its stake by 34.7% last quarter.
• The company's quarterly earnings missed analysts' estimates with $1.13 EPS reported, below the consensus forecast of $1.16 EPS.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,891 shares of the construction company's stock, valued at approximately $1,460,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Gibraltar Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ROCK. LPL Financial LLC increased its position in shares of Gibraltar Industries by 14.8% in the fourth quarter. LPL Financial LLC now owns 8,516 shares of the construction company's stock valued at $502,000 after buying an additional 1,097 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Gibraltar Industries by 8.8% during the fourth quarter. Franklin Resources Inc. now owns 6,393 shares of the construction company's stock valued at $377,000 after acquiring an additional 519 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Gibraltar Industries by 35.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,645 shares of the construction company's stock worth $980,000 after buying an additional 4,348 shares during the last quarter. Bank of Montreal Can boosted its stake in Gibraltar Industries by 8.0% in the 4th quarter. Bank of Montreal Can now owns 5,691 shares of the construction company's stock worth $335,000 after buying an additional 423 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Gibraltar Industries in the 4th quarter worth about $1,131,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK traded down $1.13 during trading on Thursday, reaching $61.16. The stock had a trading volume of 323,292 shares, compared to its average volume of 255,457. The stock has a market cap of $1.80 billion, a PE ratio of 14.67, a P/E/G ratio of 0.96 and a beta of 1.32. The firm's 50 day moving average price is $61.94 and its two-hundred day moving average price is $60.27. Gibraltar Industries, Inc. has a one year low of $48.96 and a one year high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued 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). The company had revenue of $309.50 million for the quarter, compared to the consensus estimate of $381.40 million. Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.Gibraltar Industries's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 earnings per share. On average, research analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current 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 Saturday, August 2nd.

Gibraltar Industries Company 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.