Allspring Global Investments Holdings LLC Grows Stock Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Allspring Global Investments Holdings LLC grew its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,595 shares of the construction company's stock after buying an additional 56,126 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.09% of Gibraltar Industries worth $50,120,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Millburn Ridgefield Corp purchased a new position in Gibraltar Industries in the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Gibraltar Industries during the third quarter valued at approximately $28,000. Covestor Ltd raised its holdings in shares of Gibraltar Industries by 13,540.0% during the third quarter. Covestor Ltd now owns 682 shares of the construction company's stock valued at $46,000 after acquiring an additional 677 shares during the last quarter. PrairieView Partners LLC lifted its position in shares of Gibraltar Industries by 100.0% in the third quarter. PrairieView Partners LLC now owns 816 shares of the construction company's stock valued at $55,000 after acquiring an additional 408 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Gibraltar Industries in the first quarter worth approximately $67,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Gibraltar Industries from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 29th.

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK traded down $1.05 during mid-day trading on Friday, reaching $74.19. The company's stock had a trading volume of 95,107 shares, compared to its average volume of 178,093. The stock has a market capitalization of $2.26 billion, a P/E ratio of 20.96 and a beta of 1.17. Gibraltar Industries, Inc. has a 1-year low of $47.23 and a 1-year high of $87.40. The stock has a 50-day moving average of $79.28 and a two-hundred day moving average of $74.14.

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

Gibraltar Industries 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.