Allspring Global Investments Holdings LLC Sells 121,052 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Allspring Global Investments Holdings LLC cut its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,221 shares of the construction company's stock after selling 121,052 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.66% of Gibraltar Industries worth $28,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Gibraltar Industries by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company's stock valued at $90,769,000 after purchasing an additional 397,313 shares during the period. T. Rowe Price Investment Management Inc. raised 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 acquiring an additional 140,784 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Gibraltar Industries by 52.8% during the 4th quarter. Renaissance Technologies LLC now owns 260,465 shares of the construction company's stock valued at $15,341,000 after buying an additional 90,000 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Gibraltar Industries by 76.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 192,098 shares of the construction company's stock valued at $11,315,000 after purchasing an additional 82,965 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Gibraltar Industries by 124.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 129,043 shares of the construction company's stock valued at $7,601,000 after acquiring an additional 71,532 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gibraltar Industries

In other Gibraltar Industries news, Director James B. Nish sold 1,172 shares of Gibraltar Industries stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $58.21, for a total value of $68,222.12. Following the completion of the sale, the director directly owned 11,976 shares in the company, valued at $697,122.96. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Gibraltar Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st.

Gibraltar Industries Price Performance

Shares of ROCK stock traded up $1.01 on Wednesday, hitting $62.01. 230,364 shares of the stock traded hands, compared to its average volume of 233,001. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $81.90. The company's fifty day moving average is $58.53 and its 200 day moving average is $59.67. The company has a market capitalization of $1.83 billion, a PE ratio of 14.26 and a beta of 1.32.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.09. Gibraltar Industries had a net margin of 10.22% and a return on equity of 13.39%. The firm had revenue of $290.02 million during the quarter, compared to analyst estimates of $296.77 million. During the same period in the previous year, the business posted $0.80 EPS. Gibraltar Industries's revenue was down .9% on a year-over-year basis. As a group, equities research analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

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.