Rafferty Asset Management LLC Takes $519,000 Position in Gibraltar Industries, Inc. $ROCK

Key Points

• Rafferty Asset Management LLC has acquired a new stake in Gibraltar Industries, Inc. worth approximately $519,000, purchasing 8,843 shares in the process.
• Despite increased investor interest, Wall Street analysts have downgraded Gibraltar Industries from a "buy" to a "hold" rating as of early August.
• Gibraltar Industries reported $1.13 earnings per share for the last quarter, which fell short of analysts' expectations of $1.16, alongside a revenue of $309.50 million compared to predicted revenue of $381.40 million.

Rafferty Asset Management LLC bought a new stake in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,843 shares of the construction company's stock, valued at approximately $519,000.

A number of other institutional investors have also modified their holdings of ROCK. Brooklyn Investment Group acquired a new position in shares of Gibraltar Industries in the 1st quarter valued at $36,000. GAMMA Investing LLC increased its holdings in shares of Gibraltar Industries by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock valued at $47,000 after acquiring an additional 313 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Gibraltar Industries by 40.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock valued at $59,000 after acquiring an additional 288 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Gibraltar Industries by 29.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock valued at $67,000 after acquiring an additional 261 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Gibraltar Industries in the 4th quarter valued at $111,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Gibraltar Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

Gibraltar Industries Price Performance

NASDAQ:ROCK opened at $60.63 on Wednesday. The firm's fifty day moving average price is $62.81 and its 200 day moving average price is $60.50. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $74.97. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). The firm had revenue of $309.50 million during the quarter, compared to analysts' expectations of $381.40 million. Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ROCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.