Gibraltar Industries, Inc. $ROCK Shares Sold by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Gibraltar Industries, Inc. by 3.9% during Q2, selling 10,700 shares, and currently holds a total of 267,101 shares worth approximately $15.76 million.
• Gibraltar Industries reported a net income miss in its latest earnings results, with EPS of $1.13, falling short of the $1.16 consensus estimate, and revenues of $309.5 million versus expected $381.4 million.
• Wall Street Zen has downgraded Gibraltar Industries from a "buy" to a "hold" rating, reflecting a shift in the company's perceived investment potential.

Swedbank AB trimmed its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 267,101 shares of the construction company's stock after selling 10,700 shares during the quarter. Swedbank AB owned approximately 0.91% of Gibraltar Industries worth $15,759,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Gibraltar Industries in the 1st quarter valued at about $36,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 313 shares in the last quarter. State of Wyoming purchased a new position in Gibraltar Industries during the 1st quarter worth $56,000. Smartleaf Asset Management LLC raised its position in Gibraltar Industries by 40.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock valued at $59,000 after purchasing an additional 288 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted 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 worth $67,000 after buying an additional 261 shares during the period. Hedge funds and other institutional investors own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

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

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK traded down $1.06 during mid-day trading on Tuesday, hitting $60.71. The stock had a trading volume of 74,125 shares, compared to its average volume of 261,664. The firm has a market cap of $1.79 billion, a PE ratio of 14.54, a PEG ratio of 0.95 and a beta of 1.26. The company has a 50 day moving average of $62.65 and a two-hundred day moving average of $60.11. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings data 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 for 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 business's revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS 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.