Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 41,102 shares of the construction company’s stock after selling 1,360 shares during the period. Thrivent Financial for Lutherans’ holdings in Gibraltar Industries were worth $2,874,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Gibraltar Industries by 27.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after purchasing an additional 322,422 shares during the period. Swedbank AB purchased a new stake in Gibraltar Industries during the first quarter worth approximately $17,016,000. Pacer Advisors Inc. increased its position in shares of Gibraltar Industries by 14.6% in the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock worth $74,320,000 after acquiring an additional 138,194 shares in the last quarter. Millennium Management LLC raised its stake in shares of Gibraltar Industries by 196.4% in the 2nd quarter. Millennium Management LLC now owns 123,438 shares of the construction company’s stock valued at $8,462,000 after acquiring an additional 81,791 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Gibraltar Industries by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock valued at $45,318,000 after acquiring an additional 81,401 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Stock Performance

Shares of NASDAQ:ROCK opened at $72.18 on Wednesday. The company has a market cap of $2.19 billion, a P/E ratio of 20.05 and a beta of 1.14. Gibraltar Industries, Inc. has a one year low of $61.92 and a one year high of $87.40. The business’s 50-day simple moving average is $69.57 and its 200 day simple moving average is $70.17.

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

Analyst Ratings Changes

Separately, StockNews.com lowered Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research 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.