Gibraltar Industries, Inc. $ROCK Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its ownership in Gibraltar Industries by 1.9%, acquiring over 5,792 additional shares and representing about 1.03% of the company's total shares, valued at approximately $17.9 million.
• Gibraltar Industries missed earnings estimates in its latest quarterly report, reporting $1.13 EPS against an expected $1.16, with revenues of $309.5 million, falling short of forecasts by $71.9 million.
• Despite the earnings miss, Wall Street analysts are anticipating a 4.91 EPS for Gibraltar Industries for the current year, although ratings have shifted from "buy" to "hold".

Assenagon Asset Management S.A. grew its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,146 shares of the construction company's stock after purchasing an additional 5,792 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.03% of Gibraltar Industries worth $17,886,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Gibraltar Industries by 9.6% in the 4th quarter. Millennium Management LLC now owns 151,858 shares of the construction company's stock valued at $8,944,000 after purchasing an additional 13,284 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Gibraltar Industries by 37.4% in the 4th quarter. ProShare Advisors LLC now owns 10,356 shares of the construction company's stock valued at $610,000 after purchasing an additional 2,819 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Gibraltar Industries by 4.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,581 shares of the construction company's stock valued at $4,570,000 after purchasing an additional 3,650 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Gibraltar Industries by 34.7% in the 4th 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 last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Gibraltar Industries by 9,467.7% in the 1st quarter. GAMMA Investing LLC now owns 47,456 shares of the construction company's stock valued at $2,784,000 after purchasing an additional 46,960 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Gibraltar Industries Price Performance

Shares of ROCK stock opened at $61.77 on Tuesday. Gibraltar Industries, Inc. has a 12 month low of $48.96 and a 12 month high of $74.97. The firm has a market capitalization of $1.82 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.95 and a beta of 1.26. The company's fifty day moving average price is $62.65 and its two-hundred day moving average price is $60.11.

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

Wall Street Analysts Forecast Growth

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

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.

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