Gibraltar Industries, Inc. $ROCK Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in Gibraltar Industries by 21.8%, selling 4,910 shares, leaving it with approximately 17,622 shares worth $1,034,000.
• Institutional investors hold 98.39% of Gibraltar Industries' stock, with Wellington Management increasing its stake by 30.6% in the last quarter.
• Gibraltar Industries reported a net revenue of $309.50 million for the last quarter, below analysts' expectations of $381.40 million, resulting in an EPS of $1.13.

Comerica Bank reduced its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,622 shares of the construction company's stock after selling 4,910 shares during the period. Comerica Bank owned about 0.06% of Gibraltar Industries worth $1,034,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Gibraltar Industries during the 1st quarter worth approximately $36,000. GAMMA Investing LLC increased its stake in Gibraltar Industries by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock worth $47,000 after buying an additional 313 shares during the period. Smartleaf Asset Management LLC increased its stake in Gibraltar Industries by 40.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock worth $59,000 after buying an additional 288 shares during the period. Nisa Investment Advisors LLC increased its stake in Gibraltar Industries by 29.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock worth $67,000 after buying an additional 261 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Gibraltar Industries during the 4th quarter worth approximately $111,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Price Performance

Shares of Gibraltar Industries stock traded up $1.82 during trading hours on Thursday, hitting $62.50. The company had a trading volume of 207,164 shares, compared to its average volume of 187,938. The company's 50-day moving average is $62.87 and its two-hundred day moving average is $60.43. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97. The company has a market cap of $1.84 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.94 and a beta of 1.26.

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

Wall Street Analyst Weigh In

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

About Gibraltar Industries

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.