Truist Financial Corp Cuts Stock Holdings in Gibraltar Industries, Inc. $ROCK

Key Points

• Truist Financial Corp significantly reduced its stake in Gibraltar Industries, cutting its holdings by 79.7% during the second quarter, now owning only 4,766 shares worth approximately $281,000.
• Several institutional investors have also altered their positions in Gibraltar Industries, with 98.39% of the company's stock now owned by hedge funds and other institutions.
• Analysts have downgraded Gibraltar Industries' stock rating, with Wall Street Zen lowering it from "buy" to "hold", and Zacks Research from "hold" to "strong sell".

Truist Financial Corp lessened its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 79.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,766 shares of the construction company's stock after selling 18,660 shares during the quarter. Truist Financial Corp's holdings in Gibraltar Industries were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ROCK. Brooklyn Investment Group purchased a new stake in Gibraltar Industries during the 1st quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in Gibraltar Industries by 63.1% in 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 during the period. State of Wyoming purchased a new stake in Gibraltar Industries in the 1st quarter worth approximately $56,000. Smartleaf Asset Management LLC lifted its holdings in Gibraltar Industries by 40.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company's stock worth $59,000 after buying an additional 288 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in 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

A number of analysts recently commented on the company. Wall Street Zen lowered Gibraltar Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Gibraltar Industries in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Gibraltar Industries from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce".

Gibraltar Industries Stock Performance

NASDAQ:ROCK opened at $67.11 on Friday. The firm has a market cap of $1.98 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.04 and a beta of 1.30. The firm has a 50-day simple moving average of $62.84 and a two-hundred day simple moving average of $60.32. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly 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). The firm had revenue of $309.50 million for the quarter, compared to the consensus estimate of $381.40 million. Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. Gibraltar Industries's revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. On average, equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS for the current 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.

Want to see what other hedge funds are holding ROCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.