Nuveen LLC Invests $20.69 Million in Gibraltar Industries, Inc. $ROCK

Key Points

• Nuveen LLC has acquired a new stake in Gibraltar Industries, purchasing 352,783 shares valued at approximately $20.7 million, bringing its total ownership to 1.20% of the company.
• Several hedge funds have increased their holdings in Gibraltar Industries, including Invesco Ltd. which grew its stake by 68.7% during the same quarter.
• Gibraltar Industries reported earnings per share of $1.13, missing analysts' estimates by $0.03, with revenue of $309.5 million, below expectations of $381.4 million.

Nuveen LLC acquired a new stake in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 352,783 shares of the construction company's stock, valued at approximately $20,694,000. Nuveen LLC owned approximately 1.20% of Gibraltar Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Wellington Management Group LLP increased its stake in shares of Gibraltar Industries by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company's stock worth $90,769,000 after buying an additional 397,313 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Gibraltar Industries by 32.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock valued at $33,604,000 after acquiring an additional 140,784 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Gibraltar Industries by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock worth $26,674,000 after acquiring an additional 23,308 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Gibraltar Industries by 9.7% in the fourth quarter. Northern Trust Corp now owns 366,987 shares of the construction company's stock worth $21,616,000 after acquiring an additional 32,520 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Gibraltar Industries Price Performance

Shares of Gibraltar Industries stock traded up $4.54 during trading hours on Friday, hitting $65.70. The company had a trading volume of 244,135 shares, compared to its average volume of 263,324. The company's 50-day moving average is $62.11 and its two-hundred day moving average is $60.31. The company has a market cap of $1.94 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 0.94 and a beta of 1.32. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly 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). Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The company had revenue of $309.50 million for the quarter, compared to analyst estimates of $381.40 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. Gibraltar Industries's revenue was up 13.1% compared to the same quarter last year. Sell-side analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

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.