MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Gibraltar Industries, Inc. $ROCK

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. raised its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 479,894 shares of the construction company's stock after purchasing an additional 175,769 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.63% of Gibraltar Industries worth $28,151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROCK. Brooklyn Investment Group purchased a new position in Gibraltar Industries during the first quarter valued at $36,000. GAMMA Investing LLC raised 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 buying an additional 313 shares during the last quarter. State of Wyoming acquired a new stake in shares of Gibraltar Industries in the first quarter valued at about $56,000. Smartleaf Asset Management LLC raised 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 buying an additional 288 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised 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 buying an additional 261 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Trading Up 3.1%

Gibraltar Industries stock traded up $1.91 during midday trading on Thursday, hitting $62.59. 115,063 shares of the stock were exchanged, compared to its average volume of 260,530. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $74.97. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.91 and a beta of 1.26. The stock's 50-day simple moving average is $62.83 and its 200 day simple moving average is $60.45.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings data 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 return on equity of 12.91% and a net margin of 10.08%.The firm had revenue of $309.50 million for the quarter, compared to analyst estimates of $381.40 million. During the same quarter in the previous year, the business posted $1.18 earnings per share. Gibraltar Industries's revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts anticipate that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Gibraltar Industries 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.