Nuveen LLC Purchases Shares of 352,783 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 disclosure with the SEC. The institutional investor 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROCK. LPL Financial LLC lifted its holdings in shares of Gibraltar Industries by 14.8% during the 4th quarter. LPL Financial LLC now owns 8,516 shares of the construction company's stock valued at $502,000 after buying an additional 1,097 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Gibraltar Industries by 35.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,645 shares of the construction company's stock valued at $980,000 after buying an additional 4,348 shares during the period. Bank of Montreal Can lifted its holdings in shares of Gibraltar Industries by 8.0% during the 4th quarter. Bank of Montreal Can now owns 5,691 shares of the construction company's stock valued at $335,000 after buying an additional 423 shares during the period. Raymond James Financial Inc. bought a new position in shares of Gibraltar Industries during the 4th quarter valued at $1,131,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock valued at $31,000 after buying an additional 458 shares during the period. 98.39% of the stock is owned by institutional investors.

Gibraltar Industries Trading Down 1.3%

Gibraltar Industries stock traded down $0.86 during trading on Monday, reaching $64.84. The company had a trading volume of 194,148 shares, compared to its average volume of 267,607. Gibraltar Industries, Inc. has a 52 week low of $48.96 and a 52 week high of $74.97. The firm's 50-day simple moving average is $62.25 and its 200 day simple moving average is $60.35. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The construction company reported $1.13 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $381.40 million. During the same period in the prior year, the business posted $1.18 earnings per share. Gibraltar Industries's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Analyst Ratings Changes

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