Pacer Advisors Inc. Sells 177,945 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Pacer Advisors Inc. trimmed its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 906,225 shares of the construction company’s stock after selling 177,945 shares during the quarter. Pacer Advisors Inc. owned approximately 2.99% of Gibraltar Industries worth $63,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System lifted its position in shares of Gibraltar Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock worth $584,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC grew its position in shares of Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares during the period. Louisiana State Employees Retirement System grew its holdings in Gibraltar Industries by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the construction company’s stock worth $1,049,000 after purchasing an additional 200 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Gibraltar Industries by 1.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock valued at $965,000 after buying an additional 211 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd.

Gibraltar Industries Price Performance

Shares of NASDAQ:ROCK opened at $69.72 on Friday. Gibraltar Industries, Inc. has a 1 year low of $61.92 and a 1 year high of $87.40. The company has a market capitalization of $2.12 billion, a PE ratio of 19.37 and a beta of 1.14. The business has a fifty day moving average price of $69.44 and a two-hundred day moving average price of $70.23.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. During the same period in the prior year, the firm earned $1.38 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current 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.