Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Gibraltar Industries, Inc. (NASDAQ: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. purchased a new position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,891 shares of the construction company's stock, valued at approximately $1,460,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Gibraltar Industries as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROCK. Wellington Management Group LLP increased its position in Gibraltar Industries by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company's stock worth $90,769,000 after buying an additional 397,313 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Gibraltar Industries by 32.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock worth $33,604,000 after buying an additional 140,784 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Gibraltar Industries by 76.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 192,098 shares of the construction company's stock worth $11,315,000 after buying an additional 82,965 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Gibraltar Industries by 1,114.0% during the first quarter. Teacher Retirement System of Texas now owns 84,177 shares of the construction company's stock worth $4,938,000 after acquiring an additional 77,243 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Gibraltar Industries by 9,467.7% during the first quarter. GAMMA Investing LLC now owns 47,456 shares of the construction company's stock worth $2,784,000 after acquiring an additional 46,960 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

Gibraltar Industries Stock Up 0.7%

Shares of NASDAQ:ROCK opened at $62.08 on Friday. Gibraltar Industries, Inc. has a 12-month low of $48.96 and a 12-month high of $74.97. The stock has a market cap of $1.83 billion, a PE ratio of 14.89, a P/E/G ratio of 0.95 and a beta of 1.32. The business has a 50 day moving average of $61.76 and a 200-day moving average of $60.24.

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

About Gibraltar Industries

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.

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