Maryland State Retirement & Pension System Sells 1,447 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Maryland State Retirement & Pension System trimmed its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 14.1% in the first quarter, HoldingsChannel reports. The fund owned 8,845 shares of the construction company’s stock after selling 1,447 shares during the period. Maryland State Retirement & Pension System’s holdings in Gibraltar Industries were worth $519,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of Gibraltar Industries by 645.1% in the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after acquiring an additional 458 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Gibraltar Industries by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company’s stock worth $47,000 after acquiring an additional 313 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Gibraltar Industries by 29.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the construction company’s stock worth $67,000 after acquiring an additional 261 shares during the last quarter. Quarry LP increased its stake in shares of Gibraltar Industries by 41.5% in the fourth quarter. Quarry LP now owns 1,865 shares of the construction company’s stock worth $110,000 after buying an additional 547 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Gibraltar Industries in the fourth quarter worth $111,000. 98.39% of the stock is currently owned by institutional investors.

Gibraltar Industries Stock Down 2.6%

Shares of NASDAQ ROCK opened at $61.62 on Friday. Gibraltar Industries, Inc. has a 52 week low of $48.96 and a 52 week high of $74.97. The firm’s fifty day moving average is $61.72 and its 200 day moving average is $60.23. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.98 and a beta of 1.32.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.03). Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%. The firm had revenue of $309.50 million during the quarter, compared to analysts’ expectations of $381.40 million. During the same period in the previous year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd.

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.