Raymond James Financial Inc. Makes New $1.13 Million Investment in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Raymond James Financial Inc. bought a new stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,202 shares of the construction company's stock, valued at approximately $1,131,000. Raymond James Financial Inc. owned approximately 0.06% of Gibraltar Industries as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Gibraltar Industries by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company's stock valued at $200,000 after acquiring an additional 228 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Gibraltar Industries by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 16,871 shares of the construction company's stock valued at $994,000 after purchasing an additional 237 shares in the last quarter. Keybank National Association OH lifted its position in shares of Gibraltar Industries by 5.0% in the 4th quarter. Keybank National Association OH now owns 7,148 shares of the construction company's stock worth $421,000 after purchasing an additional 343 shares during the period. Swiss National Bank boosted its stake in shares of Gibraltar Industries by 0.7% during the fourth quarter. Swiss National Bank now owns 59,900 shares of the construction company's stock valued at $3,528,000 after purchasing an additional 400 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Gibraltar Industries by 12.8% during the fourth quarter. Park Avenue Securities LLC now owns 3,603 shares of the construction company's stock valued at $212,000 after purchasing an additional 410 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James B. Nish sold 1,172 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the completion of the sale, the director now owns 11,976 shares in the company, valued at approximately $697,122.96. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gibraltar Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th.

Gibraltar Industries Stock Down 0.2 %

Shares of NASDAQ ROCK traded down $0.13 during mid-day trading on Friday, reaching $58.55. 228,154 shares of the company were exchanged, compared to its average volume of 219,258. The firm has a 50-day moving average of $57.82 and a 200 day moving average of $62.33. Gibraltar Industries, Inc. has a 1 year low of $48.96 and a 1 year high of $81.90. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 13.10 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.09. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business had revenue of $290.02 million for the quarter, compared to analysts' expectations of $296.77 million. During the same period last year, the business earned $0.80 EPS. The company's revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current 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.