Gibraltar Industries, Inc. (NASDAQ:ROCK) Stake Increased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 129.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,082 shares of the construction company’s stock after acquiring an additional 27,114 shares during the quarter. Edgestream Partners L.P.’s holdings in Gibraltar Industries were worth $2,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC increased its stake in Gibraltar Industries by 1,663.5% during the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock valued at $50,816,000 after purchasing an additional 685,462 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 32,950 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Gibraltar Industries during the third quarter valued at $792,000. Citigroup Inc. increased its stake in Gibraltar Industries by 29.5% during the third quarter. Citigroup Inc. now owns 58,768 shares of the construction company’s stock valued at $4,110,000 after purchasing an additional 13,392 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Gibraltar Industries by 8.2% during the third quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock valued at $401,000 after purchasing an additional 445 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

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 Thursday, February 20th.

Gibraltar Industries Price Performance

ROCK stock opened at $66.48 on Monday. Gibraltar Industries, Inc. has a 1-year low of $55.31 and a 1-year high of $81.90. The firm has a fifty day moving average price of $61.49 and a two-hundred day moving average price of $66.00. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 14.87 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The business had revenue of $302.06 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

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.