T. Rowe Price Investment Management Inc. Sells 6,825 Shares of Gibraltar Industries, Inc. $ROCK

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Gibraltar Industries by 1.2%, selling 6,825 shares to own about 1.91% of the company, valued at $33,067,000.
• Wall Street Zen downgraded Gibraltar Industries from a "buy" rating to a "hold" rating on August 2nd, indicating a more cautious outlook.
• Gibraltar Industries reported Q2 earnings of $1.13 EPS, missing expectations by $0.03, with revenues of $309.50 million, below the forecast of $381.40 million.

T. Rowe Price Investment Management Inc. reduced its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 563,695 shares of the construction company's stock after selling 6,825 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.91% of Gibraltar Industries worth $33,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROCK. Wellington Management Group LLP lifted its position in Gibraltar Industries by 30.6% in the 1st quarter. Wellington Management Group LLP now owns 2,012,178 shares of the construction company's stock worth $118,034,000 after buying an additional 471,108 shares in the last quarter. Nuveen LLC purchased a new stake in Gibraltar Industries in the 1st quarter worth approximately $20,694,000. Invesco Ltd. lifted its position in Gibraltar Industries by 68.7% in the 1st quarter. Invesco Ltd. now owns 250,865 shares of the construction company's stock worth $14,716,000 after buying an additional 102,150 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Gibraltar Industries by 76.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 192,098 shares of the construction company's stock worth $11,315,000 after buying an additional 82,965 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Gibraltar Industries by 1,114.0% in the 1st quarter. Teacher Retirement System of Texas now owns 84,177 shares of the construction company's stock worth $4,938,000 after buying an additional 77,243 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Performance

Shares of ROCK traded up $0.11 during trading hours on Wednesday, hitting $64.58. 177,770 shares of the company were exchanged, compared to its average volume of 265,667. The company has a market cap of $1.91 billion, a PE ratio of 15.49, a PEG ratio of 1.00 and a beta of 1.32. The firm's 50 day moving average is $62.39 and its 200-day moving average is $60.38. 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 posted its earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.03). Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The company had revenue of $309.50 million during the quarter, compared to analyst estimates of $381.40 million. During the same quarter last year, the firm posted $1.18 earnings per share. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.