Oppenheimer Asset Management Inc. grew its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 42.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,813 shares of the construction company's stock after buying an additional 4,142 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Gibraltar Industries were worth $810,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in ROCK. Sterling Capital Management LLC increased its position in shares of Gibraltar Industries by 645.1% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Gibraltar Industries by 296.1% in the fourth 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. GAMMA Investing LLC increased 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 in the last quarter. Quarry LP increased its position 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 valued at $110,000 after buying an additional 547 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Gibraltar Industries in the fourth quarter valued at $111,000. Hedge funds and other institutional investors own 98.39% of the company's stock.
Gibraltar Industries Stock Performance
Gibraltar Industries stock traded up $0.42 during midday trading on Friday, reaching $60.73. 565,057 shares of the company were exchanged, compared to its average volume of 232,242. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 13.96 and a beta of 1.34. The firm's 50-day simple moving average is $58.16 and its 200-day simple moving average is $59.77. Gibraltar Industries, Inc. has a 1 year low of $48.96 and a 1 year high of $81.90.
Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. The firm had revenue of $290.02 million during the quarter, compared to analysts' expectations of $296.77 million. Gibraltar Industries had a return on equity of 13.39% and a net margin of 10.22%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, analysts forecast that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st.
Read Our Latest Research Report on Gibraltar Industries
Insider Buying and Selling
In other Gibraltar Industries news, Director James B. Nish sold 2,670 shares of Gibraltar Industries stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $57.58, for a total value of $153,738.60. Following the completion of the sale, the director now owns 13,148 shares in the company, valued at $757,061.84. The trade was a 16.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.
Gibraltar Industries Profile
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Free Report)
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.
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