Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Swedbank AB

Swedbank AB cut its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 5.7% in the third quarter, Holdings Channel.com reports. The fund owned 267,076 shares of the construction company’s stock after selling 16,175 shares during the period. Swedbank AB’s holdings in Gibraltar Industries were worth $18,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Texas Permanent School Fund Corp raised its holdings in shares of Gibraltar Industries by 27.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after buying an additional 7,369 shares during the period. Intech Investment Management LLC purchased a new stake in Gibraltar Industries during the second quarter worth about $770,000. NBW Capital LLC purchased a new stake in Gibraltar Industries during the first quarter worth about $2,106,000. First Hawaiian Bank acquired a new stake in shares of Gibraltar Industries during the second quarter worth about $584,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Gibraltar Industries by 47.6% in the second quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 5,842 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Trading Down 2.2 %

Shares of NASDAQ ROCK opened at $72.18 on Wednesday. The stock has a market cap of $2.19 billion, a P/E ratio of 20.05 and a beta of 1.14. The business’s fifty day simple moving average is $69.57 and its 200-day simple moving average is $70.17. Gibraltar Industries, Inc. has a 12-month low of $61.92 and a 12-month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. During the same quarter last year, the company earned $1.38 EPS. Gibraltar Industries’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts forecast that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.