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. raised its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 325.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 85,740 shares of the construction company's stock after acquiring an additional 65,607 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Gibraltar Industries worth $5,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Public Sector Pension Investment Board lifted its stake in Gibraltar Industries by 27.2% during the 1st quarter. Public Sector Pension Investment Board now owns 96,196 shares of the construction company's stock valued at $5,643,000 after acquiring an additional 20,574 shares during the period. Nuveen LLC purchased a new position in Gibraltar Industries in the first quarter worth about $20,694,000. Invesco Ltd. boosted its position in Gibraltar Industries by 68.7% in the first 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 last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Gibraltar Industries in the first quarter worth about $1,460,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Gibraltar Industries by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock worth $26,674,000 after purchasing an additional 23,308 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

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 Trading Down 1.3%

Gibraltar Industries stock traded down $0.86 during midday trading on Monday, hitting $64.84. The stock had a trading volume of 194,148 shares, compared to its average volume of 267,005. The firm's fifty day moving average is $62.11 and its two-hundred day moving average is $60.31. The company has a market capitalization of $1.91 billion, a PE ratio of 15.55, a P/E/G ratio of 1.01 and a beta of 1.32. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 12.91% and a net margin of 10.08%.The company's revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. As a group, equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

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.