Wellington Management Group LLP Grows Stake 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 grew its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 30.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,012,178 shares of the construction company's stock after acquiring an additional 471,108 shares during the period. Wellington Management Group LLP owned about 6.82% of Gibraltar Industries worth $118,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in shares of Gibraltar Industries by 29.4% during the first quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company's stock valued at $67,000 after acquiring an additional 261 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Gibraltar Industries by 63.1% during the first quarter. GAMMA Investing LLC now owns 809 shares of the construction company's stock valued at $47,000 after acquiring an additional 313 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Gibraltar Industries by 1.4% during the first quarter. Federated Hermes Inc. now owns 22,289 shares of the construction company's stock valued at $1,307,000 after acquiring an additional 318 shares in the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of Gibraltar Industries by 1.6% during the first quarter. Cascade Investment Advisors Inc. now owns 20,875 shares of the construction company's stock valued at $1,225,000 after acquiring an additional 320 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Gibraltar Industries by 8.0% during the fourth quarter. Bank of Montreal Can now owns 5,691 shares of the construction company's stock valued at $335,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Performance

Gibraltar Industries stock traded up $0.11 during mid-day trading on Wednesday, reaching $64.58. 177,770 shares of the company were exchanged, compared to its average volume of 254,467. The business has a fifty day moving average of $62.53 and a 200 day moving average of $60.41. The firm has a market cap of $1.91 billion, a P/E ratio of 15.49, a PEG ratio of 0.99 and a beta of 1.32. Gibraltar Industries, Inc. has a 12-month low of $48.96 and a 12-month high of $74.97.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share 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 firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Sell-side analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

Analysts Set New Price Targets

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 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.