Gibraltar Industries, Inc. $ROCK Shares Sold by Comerica Bank

Comerica Bank reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 21.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,622 shares of the construction company’s stock after selling 4,910 shares during the period. Comerica Bank’s holdings in Gibraltar Industries were worth $1,034,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ROCK. Brooklyn Investment Group acquired a new position in Gibraltar Industries during the 1st quarter worth $36,000. GAMMA Investing LLC grew its holdings in Gibraltar Industries by 63.1% during 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 in the last quarter. Smartleaf Asset Management LLC grew its holdings in Gibraltar Industries by 40.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 997 shares of the construction company’s stock worth $59,000 after acquiring an additional 288 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Gibraltar Industries by 29.4% during 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 in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Gibraltar Industries during the 4th quarter worth $111,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Gibraltar Industries Stock Performance

Gibraltar Industries stock opened at $61.74 on Friday. The firm’s 50-day moving average is $62.86 and its 200-day moving average is $60.55. Gibraltar Industries, Inc. has a 1 year low of $48.96 and a 1 year high of $74.97. The company has a market cap of $1.82 billion, a P/E ratio of 14.81, a PEG ratio of 0.96 and a beta of 1.26.

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

Gibraltar Industries 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.