Gibraltar Industries, Inc. (NASDAQ:ROCK) Stock Position Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,813 shares of the construction company's stock after acquiring an additional 4,142 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Gibraltar Industries were worth $810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sterling Capital Management LLC grew its stake in 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 purchasing an additional 458 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 during the last quarter. GAMMA Investing LLC grew its position in shares of Gibraltar Industries by 63.1% during the first quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock worth $47,000 after buying an additional 313 shares in the last quarter. Quarry LP increased its stake in shares of Gibraltar Industries by 41.5% in the fourth quarter. Quarry LP now owns 1,865 shares of the construction company's stock worth $110,000 after buying an additional 547 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Gibraltar Industries in the fourth quarter worth $111,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Price Performance

NASDAQ:ROCK traded up $0.77 during mid-day trading on Wednesday, reaching $61.77. The stock had a trading volume of 115,852 shares, compared to its average volume of 232,579. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.25 and a beta of 1.32. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $81.90. The stock's 50 day simple moving average is $58.53 and its two-hundred day simple moving average is $59.67.

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

Insider Transactions at Gibraltar Industries

In related news, Director James B. Nish sold 2,670 shares of Gibraltar Industries stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $57.58, for a total value of $153,738.60. Following the sale, the director directly owned 13,148 shares in the company, valued at $757,061.84. This trade represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.