Point72 Asset Management L.P. Decreases Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Point72 Asset Management L.P. decreased its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,588 shares of the construction company's stock after selling 19,600 shares during the quarter. Point72 Asset Management L.P. owned about 0.63% of Gibraltar Industries worth $11,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ROCK. Wellington Management Group LLP lifted its position in 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Gibraltar Industries by 32.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock worth $33,604,000 after acquiring an additional 140,784 shares during the last quarter. Renaissance Technologies LLC increased its stake in Gibraltar Industries by 52.8% during the fourth quarter. Renaissance Technologies LLC now owns 260,465 shares of the construction company's stock worth $15,341,000 after acquiring an additional 90,000 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Gibraltar Industries by 76.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 192,098 shares of the construction company's stock worth $11,315,000 after acquiring an additional 82,965 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Gibraltar Industries by 124.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 129,043 shares of the construction company's stock worth $7,601,000 after acquiring an additional 71,532 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Insider Activity

In other news, Director James B. Nish sold 1,172 shares of Gibraltar Industries stock in a transaction on Monday, May 5th. The stock was sold at an average price of $58.21, for a total value of $68,222.12. Following the completion of the sale, the director now directly owns 11,976 shares of the company's stock, valued at approximately $697,122.96. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

Gibraltar Industries Trading Down 0.7%

ROCK stock traded down $0.42 during midday trading on Friday, hitting $59.08. 296,266 shares of the company's stock were exchanged, compared to its average volume of 229,154. The business has a 50-day simple moving average of $56.98 and a two-hundred day simple moving average of $61.90. The stock has a market capitalization of $1.74 billion, a PE ratio of 13.22 and a beta of 1.30. 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 earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. The company 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 13.19% and a net margin of 10.49%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, research analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a research note on Wednesday.

Gibraltar Industries Company 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.