Invesco Ltd. Purchases 102,150 Shares of Gibraltar Industries, Inc. $ROCK

Key Points

• Invesco Ltd. has increased its shareholding in Gibraltar Industries by 68.7%, acquiring an additional 102,150 shares, bringing its total ownership to 250,865 shares valued at approximately $14.7 million.
• Gibraltar Industries reported quarterly earnings of $1.13 per share, missing estimates, with revenues of $309.5 million compared to a forecast of $381.4 million.
• Analyst ratings for Gibraltar Industries were downgraded from a "buy" to a "hold," reflecting cautious sentiment in the market regarding the company's stock performance.

Invesco Ltd. grew its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 68.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,865 shares of the construction company's stock after buying an additional 102,150 shares during the quarter. Invesco Ltd. owned about 0.85% of Gibraltar Industries worth $14,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Gibraltar Industries by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,663,416 shares of the construction company's stock worth $97,975,000 after purchasing an additional 23,358 shares in the last quarter. Wellington Management Group LLP raised 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 worth $90,769,000 after purchasing an additional 397,313 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Gibraltar Industries by 32.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock worth $33,604,000 after purchasing an additional 140,784 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Gibraltar Industries by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock worth $26,674,000 after purchasing an additional 23,308 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Gibraltar Industries by 9.7% in the 4th quarter. Northern Trust Corp now owns 366,987 shares of the construction company's stock worth $21,616,000 after purchasing an additional 32,520 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

Gibraltar Industries Stock Down 1.3%

ROCK stock traded down $0.86 during trading hours on Monday, hitting $64.84. The company's stock had a trading volume of 194,148 shares, compared to its average volume of 267,607. The stock has a 50 day moving average price of $62.25 and a two-hundred day moving average price of $60.35. The company has a market capitalization of $1.91 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32. Gibraltar Industries, Inc. has a 12 month low of $48.96 and a 12 month high of $74.97.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded 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.