Royce & Associates LP Lowers Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Key Points

• Royce & Associates LP reduced its holdings in Gibraltar Industries by 11.0%, now owning approximately 0.47% of the company, equivalent to 140,057 shares valued at $8.2 million.
• Gibraltar Industries saw a downgrade from buy to hold by Wall Street Zen, reflecting a change in analyst sentiment.
• In its recent quarterly earnings, Gibraltar reported a net revenue decrease of 0.9% year-over-year, with earnings per share at $0.95, surpassing analyst estimates.

Royce & Associates LP reduced its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,057 shares of the construction company's stock after selling 17,268 shares during the period. Royce & Associates LP owned approximately 0.47% of Gibraltar Industries worth $8,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Gibraltar Industries by 29.4% in the first quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock valued at $67,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC boosted its stake 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 worth $47,000 after buying an additional 313 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Gibraltar Industries by 1.6% in the first quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company's stock worth $1,225,000 after buying an additional 320 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Gibraltar Industries by 8.0% in the fourth quarter. Bank of Montreal Can now owns 5,691 shares of the construction company's stock worth $335,000 after buying an additional 423 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake 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 worth $31,000 after buying an additional 458 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gibraltar Industries

In related news, Director James B. Nish sold 2,670 shares of Gibraltar Industries stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $57.58, for a total transaction of $153,738.60. Following the transaction, the director owned 13,148 shares in the company, valued at approximately $757,061.84. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Gibraltar Industries Stock Down 0.2%

Shares of NASDAQ ROCK traded down $0.12 during trading on Monday, hitting $65.84. The company had a trading volume of 174,168 shares, compared to its average volume of 266,784. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.14 and a beta of 1.32. The stock has a fifty day simple moving average of $60.72 and a two-hundred day simple moving average of $60.03. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $81.40.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. The business had revenue of $290.02 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. On average, analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current 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.