Royce & Associates LP Trims Stock 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 cut its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in shares of Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock worth $31,000 after buying an additional 458 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Gibraltar Industries by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock worth $47,000 after buying an additional 313 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Gibraltar Industries by 29.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock worth $67,000 after buying an additional 261 shares in the last quarter. Quarry LP raised its stake in shares of Gibraltar Industries by 41.5% during the 4th quarter. Quarry LP now owns 1,865 shares of the construction company's stock worth $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 during the 4th quarter worth approximately $111,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 Up 0.3%

Shares of ROCK traded up $0.20 on Wednesday, reaching $66.94. The stock had a trading volume of 21,115 shares, compared to its average volume of 266,102. The firm has a market capitalization of $1.97 billion, a PE ratio of 15.39 and a beta of 1.32. The firm has a 50-day moving average of $60.92 and a 200 day moving average of $60.14. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $78.30.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. The business had revenue of $290.02 million for 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 company's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Gibraltar Industries

In related news, Director James B. Nish sold 1,172 shares of the company's stock in a transaction that occurred 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 sale, the director owned 11,976 shares in the company, valued at $697,122.96. This represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.