Wellington Management Group LLP Grows Holdings in Gibraltar Industries, Inc. $ROCK

Key Points

• Wellington Management Group LLP increased its holdings in Gibraltar Industries, Inc. (NASDAQ: ROCK) by 30.6% in Q1, owning approximately 6.82% of the company, valued at about $118 million.
• Gibraltar Industries reported Q2 earnings with an EPS of $1.13, missing the estimate of $1.16, and revenue of $309.5 million, significantly below the expectation of $381.4 million.
• Share prices of Gibraltar Industries fell by 1.8%, with a current market cap of $1.80 billion and trading within a twelve-month range of $48.96 to $74.97.

Wellington Management Group LLP increased its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,012,178 shares of the construction company's stock after acquiring an additional 471,108 shares during the quarter. Wellington Management Group LLP owned about 6.82% of Gibraltar Industries worth $118,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ROCK. Dimensional Fund Advisors LP grew its holdings in Gibraltar Industries by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,663,416 shares of the construction company's stock worth $97,975,000 after purchasing an additional 23,358 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Gibraltar Industries by 32.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 570,520 shares of the construction company's stock worth $33,604,000 after purchasing an additional 140,784 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Gibraltar Industries by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company's stock worth $26,674,000 after buying an additional 23,308 shares during the last quarter. Northern Trust Corp increased its position in Gibraltar Industries by 9.7% during the 4th quarter. Northern Trust Corp now owns 366,987 shares of the construction company's stock valued at $21,616,000 after buying an additional 32,520 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Gibraltar Industries by 6.6% during the fourth quarter. Nuveen Asset Management LLC now owns 364,410 shares of the construction company's stock valued at $21,464,000 after buying an additional 22,638 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Down 1.8%

Shares of ROCK opened at $61.16 on Friday. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $74.97. The company has a market capitalization of $1.80 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.32. The firm has a 50 day moving average of $61.94 and a 200 day moving average of $60.27.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued 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 analysts' expectations of $381.40 million. Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. On average, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a research note 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.

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