Gibraltar Industries, Inc. $ROCK Shares Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its holdings in Gibraltar Industries by 89.8%, acquiring an additional 27,405 shares, bringing their total ownership to approximately 0.20% valued at $3,417,000.
• Several large investors, including Millennium Management LLC and Wellington Management Group LLP, have also boosted their positions in Gibraltar Industries, indicating growing institutional interest in the company.
• Gibraltar Industries reported Q2 earnings of $1.13 per share, missing expectations, alongside a revenue of $309.50 million, highlighting challenges despite a 13.1% increase in revenue year-over-year.

Wedge Capital Management L L P NC increased its position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 89.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 57,922 shares of the construction company's stock after purchasing an additional 27,405 shares during the period. Wedge Capital Management L L P NC owned about 0.20% of Gibraltar Industries worth $3,417,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Gibraltar Industries by 30.6% in the first 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Gibraltar Industries by 57.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 479,894 shares of the construction company's stock valued at $28,151,000 after purchasing an additional 175,769 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Gibraltar Industries by 5.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock valued at $26,674,000 after buying an additional 23,308 shares during the period. Nuveen LLC acquired a new stake in Gibraltar Industries during the first quarter worth about $20,694,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Gibraltar Industries by 1.9% during the second quarter. Assenagon Asset Management S.A. now owns 303,146 shares of the construction company's stock worth $17,886,000 after buying an additional 5,792 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gibraltar Industries Stock Performance

NASDAQ ROCK traded down $0.08 on Monday, reaching $61.77. The stock had a trading volume of 197,527 shares, compared to its average volume of 215,037. The stock has a market cap of $1.82 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.95 and a beta of 1.26. Gibraltar Industries, Inc. has a 12-month low of $48.96 and a 12-month high of $74.97. The business's 50-day moving average price is $62.65 and its 200 day moving average price is $60.11.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released 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). Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The company had revenue of $309.50 million for the quarter, compared to analyst estimates of $381.40 million. During the same quarter in the prior year, the firm earned $1.18 EPS. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share 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.