VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Gibraltar Industries, Inc. $ROCK

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al purchased 30,954 shares of Gibraltar Industries, Inc. for approximately $1.83 million, increasing its ownership to about 0.10% of the company.
• Several hedge funds significantly increased their stakes in Gibraltar Industries, with Ancora Advisors LLC boosting its position by 204.4% in the first quarter.
• Gibraltar Industries reported $1.13 EPS for the last quarter, missing estimates, with a revenue of $309.50 million against an expected $381.40 million.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,954 shares of the construction company's stock, valued at approximately $1,826,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of Gibraltar Industries as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Gibraltar Industries by 30.6% during the first quarter. Wellington Management Group LLP now owns 2,012,178 shares of the construction company's stock worth $118,034,000 after acquiring an additional 471,108 shares during the period. Nuveen LLC purchased a new position in Gibraltar Industries in the first quarter worth $20,694,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Gibraltar Industries by 57.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 479,894 shares of the construction company's stock worth $28,151,000 after purchasing an additional 175,769 shares during the last quarter. Ancora Advisors LLC boosted its position in Gibraltar Industries by 204.4% in the first quarter. Ancora Advisors LLC now owns 191,688 shares of the construction company's stock worth $11,244,000 after purchasing an additional 128,721 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 98.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ROCK shares. Weiss Ratings reissued a "hold (c)" rating on shares of Gibraltar Industries in a research report on Wednesday, October 8th. Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Zacks Research cut Gibraltar Industries from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce".

Gibraltar Industries Stock Performance

Shares of ROCK opened at $69.49 on Thursday. The stock's 50-day simple moving average is $63.48 and its 200 day simple moving average is $60.67. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $75.08.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). The company had revenue of $309.50 million for 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 business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. On average, research analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

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.

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