Russell Investments Group Ltd. Acquires 65,607 Shares of Gibraltar Industries, Inc. $ROCK

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Gibraltar Industries by acquiring 65,607 shares, bringing its total ownership to 85,740 shares valued at approximately $5 million.
• Institutional investors own 98.39% of Gibraltar Industries' stock, indicating strong investor interest in the company.
• Analysts at Wall Street Zen downgraded Gibraltar Industries from a "buy" to a "hold" rating recently, amidst a mixed earnings report that missed revenue expectations.

Russell Investments Group Ltd. grew its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 325.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,740 shares of the construction company's stock after buying an additional 65,607 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of Gibraltar Industries worth $5,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Gibraltar Industries by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company's stock valued at $90,769,000 after acquiring an additional 397,313 shares in the last quarter. Nuveen LLC purchased a new stake in Gibraltar Industries in the first quarter valued at $20,694,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Gibraltar Industries by 32.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock valued at $33,604,000 after buying an additional 140,784 shares during the period. Invesco Ltd. increased its holdings in Gibraltar Industries by 68.7% during the 1st quarter. Invesco Ltd. now owns 250,865 shares of the construction company's stock worth $14,716,000 after purchasing an additional 102,150 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Gibraltar Industries by 76.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 192,098 shares of the construction company's stock worth $11,315,000 after purchasing an additional 82,965 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Gibraltar Industries Price Performance

NASDAQ:ROCK traded up $0.11 during midday trading on Wednesday, reaching $64.58. 177,770 shares of the company traded hands, compared to its average volume of 254,467. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.99 and a beta of 1.32. The company has a fifty day moving average price of $62.53 and a 200 day moving average price of $60.41.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.03). The business had revenue of $309.50 million during the quarter, compared to analyst estimates of $381.40 million. Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, equities research analysts forecast 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.