New York State Teachers Retirement System Reduces Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

New York State Teachers Retirement System lessened its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,425 shares of the construction company's stock after selling 4,200 shares during the period. New York State Teachers Retirement System owned about 0.15% of Gibraltar Industries worth $2,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROCK. Smartleaf Asset Management LLC lifted its position in shares of Gibraltar Industries by 296.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock valued at $42,000 after buying an additional 530 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gibraltar Industries by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 431,415 shares of the construction company's stock worth $25,410,000 after acquiring an additional 20,634 shares during the last quarter. Keybank National Association OH increased its stake in shares of Gibraltar Industries by 5.0% in the 4th quarter. Keybank National Association OH now owns 7,148 shares of the construction company's stock worth $421,000 after acquiring an additional 343 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Gibraltar Industries in the 4th quarter worth $892,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Gibraltar Industries in the 4th quarter worth $1,131,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Gibraltar Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st.

Gibraltar Industries Trading Down 2.8%

Gibraltar Industries stock opened at $60.54 on Tuesday. The stock's fifty day simple moving average is $59.21 and its 200-day simple moving average is $59.59. The firm has a market capitalization of $1.79 billion, a P/E ratio of 13.92 and a beta of 1.32. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $81.90.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. The business had revenue of $290.02 million during the quarter, compared to analysts' expectations of $296.77 million. Gibraltar Industries had a net margin of 10.22% and a return on equity of 13.39%. The company's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. Sell-side analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Insider Transactions at Gibraltar Industries

In other news, Director James B. Nish sold 2,670 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $57.58, for a total transaction of $153,738.60. Following the completion of the sale, the director owned 13,148 shares in the company, valued at $757,061.84. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

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.

Want to see what other hedge funds are holding ROCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.