Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,415 shares of the construction company’s stock after selling 6,000 shares during the period. First Eagle Investment Management LLC’s holdings in Gibraltar Industries were worth $6,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ROCK. Hsbc Holdings PLC lifted its stake in shares of Gibraltar Industries by 47.6% during the second quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock valued at $1,242,000 after buying an additional 5,842 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Gibraltar Industries by 18.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,786 shares of the construction company’s stock worth $876,000 after purchasing an additional 2,002 shares during the period. American Century Companies Inc. boosted its holdings in shares of Gibraltar Industries by 8.5% during the second quarter. American Century Companies Inc. now owns 61,313 shares of the construction company’s stock worth $4,203,000 after purchasing an additional 4,796 shares during the last quarter. Van Hulzen Asset Management LLC grew its position in shares of Gibraltar Industries by 8.0% in the second quarter. Van Hulzen Asset Management LLC now owns 29,207 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 2,156 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in Gibraltar Industries by 27.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after purchasing an additional 7,369 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd.

Gibraltar Industries Stock Performance

Gibraltar Industries stock opened at $71.37 on Friday. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 19.19 and a beta of 1.14. Gibraltar Industries, Inc. has a 1 year low of $59.66 and a 1 year high of $87.40. The firm has a 50 day moving average price of $70.06 and a 200 day moving average price of $72.20.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, July 31st. The construction company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.08). The company had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts predict that Gibraltar Industries, Inc. will post 4.6 EPS for the current 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.