Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 291,272 shares of the construction company’s stock after selling 36,986 shares during the quarter. Assenagon Asset Management S.A. owned about 0.96% of Gibraltar Industries worth $17,156,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Victory Capital Management Inc. increased its position in Gibraltar Industries by 27.8% during the third 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 last quarter. State Street Corp grew its stake in shares of Gibraltar Industries by 4.6% during the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after buying an additional 56,008 shares during the period. Pacer Advisors Inc. grew its stake in shares of Gibraltar Industries by 14.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock valued at $74,320,000 after buying an additional 138,194 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Gibraltar Industries by 1.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after buying an additional 9,764 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Gibraltar Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after buying an additional 32,950 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 31st.

Gibraltar Industries Stock Performance

ROCK opened at $62.51 on Friday. Gibraltar Industries, Inc. has a 1 year low of $55.31 and a 1 year high of $87.40. The firm has a 50 day moving average price of $65.58 and a 200 day moving average price of $68.10. The company has a market cap of $1.90 billion, a PE ratio of 17.36 and a beta of 1.19.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. During the same period in the previous year, the firm earned $1.38 earnings per share. Gibraltar Industries’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, sell-side analysts predict that Gibraltar Industries, Inc. will post 4.18 earnings per share 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.