Norges Bank Buys Shares of 26,679 Gibraltar Industries, Inc. (NASDAQ:ROCK)

Norges Bank purchased a new position in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,679 shares of the construction company's stock, valued at approximately $1,571,000. Norges Bank owned 0.09% of Gibraltar Industries as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Gibraltar Industries by 39.5% during the fourth quarter. JPMorgan Chase & Co. now owns 204,466 shares of the construction company's stock worth $12,043,000 after buying an additional 57,928 shares during the period. State Street Corp raised its stake in shares of Gibraltar Industries by 4.6% during the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company's stock worth $89,390,000 after buying an additional 56,008 shares during the period. Barclays PLC grew its position in shares of Gibraltar Industries by 93.8% in the third quarter. Barclays PLC now owns 103,324 shares of the construction company's stock valued at $7,226,000 after purchasing an additional 50,017 shares during the period. Geode Capital Management LLC raised its holdings in shares of Gibraltar Industries by 4.1% during the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company's stock valued at $58,676,000 after acquiring an additional 32,950 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Gibraltar Industries in the 4th quarter valued at $1,727,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 20th.

Gibraltar Industries Stock Performance

NASDAQ ROCK traded up $0.24 during trading on Thursday, reaching $52.04. The company's stock had a trading volume of 27,550 shares, compared to its average volume of 210,459. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 11.64 and a beta of 1.22. The business's fifty day moving average price is $60.76 and its 200-day moving average price is $64.09. Gibraltar Industries, Inc. has a twelve month low of $48.96 and a twelve month high of $81.90.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $302.06 million for the quarter, compared to the consensus estimate of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The company's quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

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.