Deutsche Bank AG grew its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 24.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,830 shares of the construction company's stock after buying an additional 9,081 shares during the quarter. Deutsche Bank AG owned 0.15% of Gibraltar Industries worth $2,699,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Gibraltar Industries by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company's stock valued at $200,000 after purchasing an additional 228 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Gibraltar Industries by 1.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 16,871 shares of the construction company's stock valued at $994,000 after purchasing an additional 237 shares during the period. Keybank National Association OH boosted its holdings in shares of Gibraltar Industries by 5.0% in the fourth quarter. Keybank National Association OH now owns 7,148 shares of the construction company's stock valued at $421,000 after purchasing an additional 343 shares during the period. Swiss National Bank boosted its holdings in shares of Gibraltar Industries by 0.7% in the fourth quarter. Swiss National Bank now owns 59,900 shares of the construction company's stock valued at $3,528,000 after purchasing an additional 400 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Gibraltar Industries by 12.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,603 shares of the construction company's stock valued at $212,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 98.39% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com lowered Gibraltar Industries from a "buy" rating to a "hold" rating in a report on Wednesday.
Read Our Latest Analysis on ROCK
Gibraltar Industries Stock Performance
Shares of NASDAQ ROCK opened at $60.03 on Thursday. The stock has a 50 day moving average price of $57.24 and a 200 day moving average price of $62.10. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.43 and a beta of 1.30. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90.
Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. The company had revenue of $290.02 million during the quarter, compared to analyst estimates of $296.77 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. Gibraltar Industries's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director James B. Nish sold 1,172 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the transaction, the director now directly owns 11,976 shares of the company's stock, valued at approximately $697,122.96. This represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.
Gibraltar Industries Profile
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Free Report)
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.
See Also
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