Martingale Asset Management L P Raises Stock Holdings in Gibraltar Industries, Inc. $ROCK

Key Points

• Martingale Asset Management L P has increased its stake in Gibraltar Industries, Inc. by 24.8%, owning approximately $2.53 million worth of stock after acquiring 8,551 additional shares in the first quarter.
• Gibraltar Industries reported earnings of $1.13 per share for the last quarter, falling short of the expected $1.16, with revenue of $309.5 million significantly below analysts' expectations of $381.4 million.
• Wall Street analysts have downgraded Gibraltar Industries from a "buy" rating to a "hold" rating as of August 2nd.

Martingale Asset Management L P grew its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 43,063 shares of the construction company's stock after purchasing an additional 8,551 shares during the period. Martingale Asset Management L P owned approximately 0.15% of Gibraltar Industries worth $2,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Gibraltar Industries by 30.6% in the 1st quarter. Wellington Management Group LLP now owns 2,012,178 shares of the construction company's stock valued at $118,034,000 after purchasing an additional 471,108 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $97,975,000 after purchasing an additional 23,358 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake 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 valued at $33,604,000 after purchasing an additional 140,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 valued at $26,674,000 after purchasing an additional 23,308 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 valued at $21,616,000 after purchasing an additional 32,520 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Gibraltar Industries Trading Down 1.3%

Gibraltar Industries stock traded down $0.86 during midday trading on Monday, reaching $64.84. The stock had a trading volume of 194,148 shares, compared to its average volume of 267,607. Gibraltar Industries, Inc. has a 12 month low of $48.96 and a 12 month high of $74.97. The company has a market capitalization of $1.91 billion, a P/E ratio of 15.55, a PEG ratio of 1.01 and a beta of 1.32. The company has a fifty day moving average price of $62.25 and a two-hundred day moving average price of $60.35.

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 company had revenue of $309.50 million for the quarter, compared to the consensus estimate of $381.40 million. Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Gibraltar Industries from a "buy" rating to a "hold" rating in a research note 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.