Pacer Advisors Inc. Increases Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Pacer Advisors Inc. grew its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 14.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,084,170 shares of the construction company’s stock after acquiring an additional 138,194 shares during the quarter. Pacer Advisors Inc.’s holdings in Gibraltar Industries were worth $74,320,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ROCK. Swedbank AB purchased a new stake in shares of Gibraltar Industries in the first quarter valued at about $17,016,000. Lord Abbett & CO. LLC purchased a new position in Gibraltar Industries during the first quarter worth about $5,845,000. Vanguard Group Inc. raised its holdings in Gibraltar Industries by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,888,642 shares of the construction company’s stock worth $232,622,000 after purchasing an additional 68,728 shares in the last quarter. NBW Capital LLC purchased a new position in Gibraltar Industries during the first quarter worth about $2,106,000. Finally, Quest Partners LLC grew its position in Gibraltar Industries by 435.0% during the second quarter. Quest Partners LLC now owns 21,771 shares of the construction company’s stock worth $1,492,000 after buying an additional 17,702 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK opened at $71.37 on Friday. Gibraltar Industries, Inc. has a 1 year low of $59.66 and a 1 year high of $87.40. The firm’s 50 day moving average price is $70.02 and its 200 day moving average price is $72.15. The firm has a market cap of $2.18 billion, a P/E ratio of 19.19 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Gibraltar Industries had a return on equity of 13.91% and a net margin of 8.49%. The company had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $373.60 million. During the same period in the prior year, the business earned $1.18 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities 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.