Martingale Asset Management L P Has $2.03 Million Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Martingale Asset Management L P trimmed its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 23.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,512 shares of the construction company’s stock after selling 10,738 shares during the period. Martingale Asset Management L P’s holdings in Gibraltar Industries were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROCK. Renaissance Technologies LLC boosted its position in Gibraltar Industries by 52.8% during the 4th quarter. Renaissance Technologies LLC now owns 260,465 shares of the construction company’s stock worth $15,341,000 after buying an additional 90,000 shares during the period. Bank of Montreal Can lifted its holdings in shares of Gibraltar Industries by 8.0% during the fourth quarter. Bank of Montreal Can now owns 5,691 shares of the construction company’s stock worth $335,000 after purchasing an additional 423 shares during the period. Wells Fargo & Company MN grew its stake in shares of Gibraltar Industries by 35.4% in the fourth quarter. Wells Fargo & Company MN now owns 16,645 shares of the construction company’s stock worth $980,000 after purchasing an additional 4,348 shares during the last quarter. Geode Capital Management LLC increased its holdings in Gibraltar Industries by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 854,821 shares of the construction company’s stock valued at $50,359,000 after purchasing an additional 15,889 shares during the period. Finally, Franklin Resources Inc. raised its position in Gibraltar Industries by 8.8% during the 4th quarter. Franklin Resources Inc. now owns 6,393 shares of the construction company’s stock worth $377,000 after purchasing an additional 519 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th.

Gibraltar Industries Stock Performance

Gibraltar Industries stock opened at $53.49 on Friday. The firm has a 50 day moving average price of $61.28 and a two-hundred day moving average price of $64.50. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 11.97 and a beta of 1.22.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results 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. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business had revenue of $302.06 million for the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. Gibraltar Industries’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, equities research analysts predict that Gibraltar Industries, Inc. will post 4.91 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.