Pacer Advisors Inc. Has $10.10 Million Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Key Points

• Pacer Advisors Inc. significantly reduced its position in Gibraltar Industries by 76.1%, selling 547,624 shares and retaining 172,170 shares, valued at approximately $10.1 million.
• Multiple hedge funds, including Wellington Management Group and T. Rowe Price, increased their stakes in Gibraltar Industries by substantial percentages during the previous quarters.
• Gibraltar Industries reported a quarterly earnings per share (EPS) of $0.95, surpassing the consensus estimate of $0.86, despite a revenue decline of 0.9% year-over-year.

Pacer Advisors Inc. lowered its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 76.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,170 shares of the construction company's stock after selling 547,624 shares during the quarter. Pacer Advisors Inc. owned approximately 0.58% of Gibraltar Industries worth $10,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Gibraltar Industries by 29.4% during the first quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock valued at $67,000 after acquiring an additional 261 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Gibraltar Industries by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock worth $47,000 after purchasing an additional 313 shares during the last quarter. Cascade Investment Advisors Inc. raised its position in Gibraltar Industries by 1.6% in the 1st quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company's stock worth $1,225,000 after buying an additional 320 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Gibraltar Industries by 8.0% during the 4th quarter. Bank of Montreal Can now owns 5,691 shares of the construction company's stock valued at $335,000 after acquiring an additional 423 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in Gibraltar Industries by 645.1% in the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock worth $31,000 after purchasing an additional 458 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gibraltar Industries

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

Analyst Ratings Changes

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

Gibraltar Industries Stock Down 1.3%

Shares of Gibraltar Industries stock traded down $0.84 on Thursday, reaching $65.81. 42,304 shares of the stock were exchanged, compared to its average volume of 265,799. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $78.30. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.15 and a beta of 1.32. The business has a 50 day moving average price of $61.05 and a two-hundred day moving average price of $60.19.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.86 by $0.09. Gibraltar Industries had a return on equity of 13.39% and a net margin of 10.22%. The business had revenue of $290.02 million for the quarter, compared to analyst estimates of $296.77 million. During the same quarter in the prior year, the company posted $0.80 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. 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.