Alliancebernstein L.P. Lowers Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Alliancebernstein L.P. reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,407 shares of the construction company’s stock after selling 27,580 shares during the quarter. Alliancebernstein L.P.’s holdings in Gibraltar Industries were worth $4,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of 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 acquiring an additional 397,313 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Gibraltar Industries by 124.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 129,043 shares of the construction company’s stock valued at $7,601,000 after purchasing an additional 71,532 shares during the last quarter. Norges Bank purchased a new position in shares of Gibraltar Industries during the fourth quarter valued at about $1,571,000. JPMorgan Chase & Co. increased its holdings in shares of Gibraltar Industries by 39.5% in the fourth quarter. JPMorgan Chase & Co. now owns 204,466 shares of the construction company’s stock worth $12,043,000 after purchasing an additional 57,928 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Gibraltar Industries by 25.3% during the fourth quarter. EntryPoint Capital LLC now owns 11,037 shares of the construction company’s stock valued at $650,000 after buying an additional 2,228 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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 Up 1.4 %

Gibraltar Industries stock opened at $54.23 on Monday. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90. The firm’s fifty day moving average is $61.18 and its 200 day moving average is $64.37. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 12.13 and a beta of 1.22.

Gibraltar Industries (NASDAQ:ROCK) last announced 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. The firm had revenue of $302.06 million for the quarter, compared to analysts’ expectations of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. On average, equities research analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Gibraltar Industries Company 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.