Norges Bank Acquires New Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Norges Bank bought a new position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,679 shares of the construction company’s stock, valued at approximately $1,571,000.

A number of other hedge funds have also bought and sold shares of ROCK. Smartleaf Asset Management LLC boosted its position in Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock valued at $42,000 after buying an additional 530 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Gibraltar Industries in the 4th quarter valued at $53,000. KBC Group NV boosted its holdings in shares of Gibraltar Industries by 50.2% in the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock valued at $85,000 after acquiring an additional 480 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Gibraltar Industries in the fourth quarter worth $117,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Gibraltar Industries by 7.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company’s stock worth $200,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

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

Gibraltar Industries Stock Up 1.4 %

Shares of ROCK opened at $54.23 on Friday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 12.13 and a beta of 1.22. Gibraltar Industries, Inc. has a 52 week low of $48.96 and a 52 week high of $81.90. The stock’s 50-day moving average price is $61.18 and its 200-day moving average price is $64.40.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $307.93 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities analysts anticipate 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.