T. Rowe Price Investment Management Inc. Acquires 140,784 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

T. Rowe Price Investment Management Inc. raised its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 570,520 shares of the construction company's stock after buying an additional 140,784 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.88% of Gibraltar Industries worth $33,604,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Gibraltar Industries by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,990,179 shares of the construction company's stock worth $176,122,000 after purchasing an additional 15,201 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Gibraltar Industries by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,663,416 shares of the construction company's stock worth $97,975,000 after acquiring an additional 23,358 shares in the last quarter. Wellington Management Group LLP increased its position in Gibraltar Industries by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company's stock worth $90,769,000 after buying an additional 397,313 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Gibraltar Industries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 854,821 shares of the construction company's stock worth $50,359,000 after acquiring an additional 15,889 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Gibraltar Industries by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 431,415 shares of the construction company's stock valued at $25,410,000 after purchasing an additional 20,634 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Wall Street Analysts Forecast Growth

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 Price Performance

Shares of ROCK traded up $0.12 during trading hours on Wednesday, hitting $52.95. 430,365 shares of the stock were exchanged, compared to its average volume of 215,313. The firm has a market capitalization of $1.57 billion, a P/E ratio of 11.85 and a beta of 1.22. The business has a 50-day moving average of $59.24 and a 200-day moving average of $62.89. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $296.77 million. During the same quarter last year, the firm posted $0.80 EPS. Gibraltar Industries's revenue was down .9% compared to the same quarter last year. As a group, analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share 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.