Legato Capital Management LLC Takes Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Legato Capital Management LLC bought a new position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,760 shares of the construction company's stock, valued at approximately $1,008,000.

A number of other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Gibraltar Industries by 59.5% during the first quarter. JPMorgan Chase & Co. now owns 33,829 shares of the construction company's stock valued at $1,453,000 after purchasing an additional 12,621 shares during the period. US Bancorp DE raised its position in Gibraltar Industries by 60.8% during the first quarter. US Bancorp DE now owns 2,160 shares of the construction company's stock valued at $93,000 after purchasing an additional 817 shares during the period. Citigroup Inc. raised its position in Gibraltar Industries by 12.2% during the first quarter. Citigroup Inc. now owns 31,852 shares of the construction company's stock valued at $1,368,000 after purchasing an additional 3,456 shares during the period. PNC Financial Services Group Inc. raised its position in Gibraltar Industries by 23.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the construction company's stock valued at $138,000 after purchasing an additional 614 shares during the period. Finally, MetLife Investment Management LLC raised its position in Gibraltar Industries by 57.5% during the first quarter. MetLife Investment Management LLC now owns 17,585 shares of the construction company's stock valued at $755,000 after purchasing an additional 6,421 shares during the period. 96.85% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Trading Down 1.1 %

Shares of NASDAQ ROCK traded down $0.86 during midday trading on Friday, hitting $80.37. The company's stock had a trading volume of 132,411 shares, compared to its average volume of 197,440. The business's 50 day moving average is $79.98 and its two-hundred day moving average is $73.36. Gibraltar Industries, Inc. has a 12-month low of $44.98 and a 12-month high of $87.40. The firm has a market cap of $2.45 billion, a P/E ratio of 22.39 and a beta of 1.17.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Gibraltar Industries had a return on equity of 14.50% and a net margin of 8.02%. The business had revenue of $328.80 million during the quarter, compared to analysts' expectations of $331.40 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Gibraltar Industries, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research report on Thursday.

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.