Gibraltar Industries, Inc. $ROCK Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gibraltar Industries by 57.8%, now owning approximately 479,894 shares worth about $28.15 million.
• In the latest analyst report, Wall Street Zen downgraded Gibraltar Industries from a "buy" rating to a "hold" rating.
• Gibraltar Industries reported earnings of $1.13 per share, missing estimates, with revenues of $309.5 million for the last quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479,894 shares of the construction company's stock after acquiring an additional 175,769 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.63% of Gibraltar Industries worth $28,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of Gibraltar Industries by 29.4% in 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Gibraltar Industries by 40.6% in the first quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock valued at $59,000 after acquiring an additional 288 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Gibraltar Industries by 63.1% in the first quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock valued at $47,000 after acquiring an additional 313 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Gibraltar Industries by 1.4% in the first quarter. Federated Hermes Inc. now owns 22,289 shares of the construction company's stock valued at $1,307,000 after acquiring an additional 318 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its position in shares of Gibraltar Industries by 1.6% in the first quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company's stock valued at $1,225,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Performance

Shares of Gibraltar Industries stock traded down $1.46 during trading hours on Friday, hitting $61.04. The company's stock had a trading volume of 64,783 shares, compared to its average volume of 259,940. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.94 and a beta of 1.26. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97. The firm has a fifty day moving average of $62.87 and a 200-day moving average of $60.43.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). The business had revenue of $309.50 million for 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 firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 earnings per share. On average, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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