Cubist Systematic Strategies LLC Has $8.29 Million Holdings in Gibraltar Industries, Inc. $ROCK

Key Points

• Cubist Systematic Strategies LLC has increased its holdings in Gibraltar Industries, Inc. by 29.3%, now owning 141,360 shares valued at approximately $8.29 million.
• Gibraltar Industries reported a quarterly earnings loss of $1.13 per share, missing estimates and experiencing a year-over-year revenue growth of 13.1%.
• Multiple institutional investors, including Principal Financial Group and SG Americas Securities, also significantly increased their stakes in Gibraltar Industries during the first quarter.

Cubist Systematic Strategies LLC increased its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,360 shares of the construction company's stock after acquiring an additional 32,015 shares during the period. Cubist Systematic Strategies LLC owned about 0.48% of Gibraltar Industries worth $8,292,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Gibraltar Industries by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 167,692 shares of the construction company's stock valued at $9,837,000 after acquiring an additional 5,201 shares during the last quarter. Oppenheimer Asset Management Inc. increased 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 valued at $810,000 after acquiring an additional 4,142 shares during the last quarter. GAMMA Investing LLC increased 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 valued at $47,000 after acquiring an additional 313 shares during the last quarter. SG Americas Securities LLC boosted its stake in Gibraltar Industries by 215.6% during the 1st quarter. SG Americas Securities LLC now owns 6,256 shares of the construction company's stock valued at $367,000 after purchasing an additional 4,274 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $26,674,000 after purchasing an additional 23,308 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Gibraltar Industries Stock Down 0.5%

ROCK stock traded down $0.33 during midday trading on Friday, reaching $61.74. 146,158 shares of the company's stock traded hands, compared to its average volume of 205,570. The company has a 50-day simple moving average of $62.86 and a two-hundred day simple moving average of $60.52. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $74.97. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.95 and a beta of 1.26.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share 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 for the quarter, compared to analyst estimates of $381.40 million. During the same period in the prior year, the business earned $1.18 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts forecast 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.