Vanguard Group Inc. Purchases 5,476 Shares of Gibraltar Industries, Inc. $ROCK

Key Points

• Vanguard Group Inc. increased its stake in Gibraltar Industries by 0.2% in Q1, owning $175.73 million worth of shares, representing 10.16% of the company.
• Institutional investors collectively hold 98.39% of Gibraltar Industries' stock, indicating strong institutional interest.
• Gibraltar Industries reported earnings per share of $1.13, missing analysts' estimates of $1.16, with revenue of $309.50 million compared to an estimate of $381.40 million.

Vanguard Group Inc. lifted its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,995,655 shares of the construction company's stock after acquiring an additional 5,476 shares during the quarter. Vanguard Group Inc. owned approximately 10.16% of Gibraltar Industries worth $175,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Jefferies Financial Group Inc. acquired a new position in shares of Gibraltar Industries in the first quarter worth $397,000. Natixis Advisors LLC increased its stake in shares of Gibraltar Industries by 10.7% in the first quarter. Natixis Advisors LLC now owns 13,024 shares of the construction company's stock worth $764,000 after acquiring an additional 1,261 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Gibraltar Industries by 1.4% in the first quarter. Federated Hermes Inc. now owns 22,289 shares of the construction company's stock worth $1,307,000 after acquiring an additional 318 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Gibraltar Industries by 24,011.8% in the first quarter. Picton Mahoney Asset Management now owns 4,099 shares of the construction company's stock worth $240,000 after acquiring an additional 4,082 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gibraltar Industries by 19.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,972 shares of the construction company's stock worth $878,000 after acquiring an additional 2,423 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Gibraltar Industries Trading Down 1.3%

Gibraltar Industries stock traded down $0.86 during mid-day trading on Monday, hitting $64.84. 194,148 shares of the company's stock were exchanged, compared to its average volume of 267,607. The stock has a market cap of $1.91 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.01 and a beta of 1.32. Gibraltar Industries, Inc. has a 1-year low of $48.96 and a 1-year high of $74.97. The stock has a 50 day moving average of $62.25 and a two-hundred day moving average of $60.35.

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 for the quarter, compared to analyst estimates of $381.40 million. Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, research analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

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 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.