Victory Capital Management Inc. Cuts Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Victory Capital Management Inc. decreased its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430,361 shares of the construction company's stock after selling 411,183 shares during the quarter. Victory Capital Management Inc. owned about 4.70% of Gibraltar Industries worth $112,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in Gibraltar Industries by 8.7% in the fourth quarter. Mackenzie Financial Corp now owns 4,321 shares of the construction company's stock valued at $341,000 after buying an additional 345 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Gibraltar Industries during the third quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Gibraltar Industries in the 3rd quarter valued at approximately $28,000. Ritholtz Wealth Management boosted its stake in Gibraltar Industries by 15.0% in the 4th quarter. Ritholtz Wealth Management now owns 4,205 shares of the construction company's stock worth $332,000 after purchasing an additional 549 shares in the last quarter. Finally, Covestor Ltd grew its position in Gibraltar Industries by 13,540.0% during the 3rd quarter. Covestor Ltd now owns 682 shares of the construction company's stock worth $46,000 after purchasing an additional 677 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Price Performance

Gibraltar Industries stock traded up $0.45 during trading hours on Friday, hitting $71.69. 160,928 shares of the stock traded hands, compared to its average volume of 176,154. Gibraltar Industries, Inc. has a 1 year low of $51.36 and a 1 year high of $87.40. The firm's 50 day moving average price is $75.84 and its 200-day moving average price is $74.78. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.15 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The firm had revenue of $292.51 million during the quarter, compared to analysts' expectations of $296.29 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business's quarterly revenue was down .3% compared to the same quarter last year. Research analysts forecast that Gibraltar Industries, Inc. will post 4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday.

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.