Picton Mahoney Asset Management Buys 4,082 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Picton Mahoney Asset Management raised its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 24,011.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,099 shares of the construction company's stock after buying an additional 4,082 shares during the period. Picton Mahoney Asset Management's holdings in Gibraltar Industries were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gibraltar Industries by 19.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,972 shares of the construction company's stock valued at $878,000 after acquiring an additional 2,423 shares during the last quarter. Birchcreek Wealth Management LLC purchased a new position in shares of Gibraltar Industries during the first quarter valued at about $267,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Gibraltar Industries during the first quarter valued at about $1,788,000. Guidance Capital Inc. increased its position in shares of Gibraltar Industries by 15.2% during the first quarter. Guidance Capital Inc. now owns 8,674 shares of the construction company's stock valued at $503,000 after buying an additional 1,142 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Gibraltar Industries during the first quarter valued at about $1,388,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gibraltar Industries

In other news, Director James B. Nish sold 1,172 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $58.21, for a total transaction of $68,222.12. Following the sale, the director owned 11,976 shares in the company, valued at $697,122.96. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Gibraltar Industries Trading Down 2.6%

ROCK traded down $1.71 during midday trading on Friday, reaching $64.32. The company's stock had a trading volume of 224,223 shares, compared to its average volume of 266,600. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.79 and a beta of 1.32. Gibraltar Industries, Inc. has a 1 year low of $48.96 and a 1 year high of $74.97. The stock's 50-day moving average is $61.18 and its 200-day moving average is $60.24.

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

Analysts Set New Price Targets

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

Gibraltar Industries Profile

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.