Principal Financial Group Inc. cut its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,799 shares of the construction company’s stock after selling 7,841 shares during the period. Principal Financial Group Inc. owned 0.78% of Gibraltar Industries worth $7,750,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of Gibraltar Industries during the second quarter worth $147,000. Profund Advisors LLC increased its position in shares of Gibraltar Industries by 9.1% in the 2nd quarter. Profund Advisors LLC now owns 5,756 shares of the construction company’s stock valued at $205,000 after acquiring an additional 480 shares during the period. Aperio Group LLC increased its position in shares of Gibraltar Industries by 1.4% in the 2nd quarter. Aperio Group LLC now owns 7,200 shares of the construction company’s stock valued at $257,000 after acquiring an additional 101 shares during the period. Petrus Trust Company LTA acquired a new position in shares of Gibraltar Industries in the 2nd quarter valued at $305,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Gibraltar Industries by 68.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,475 shares of the construction company’s stock valued at $373,000 after acquiring an additional 4,252 shares during the period.
Gibraltar Industries, Inc. (NASDAQ ROCK) opened at $31.25 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.36 and a quick ratio of 1.93. Gibraltar Industries, Inc. has a 12-month low of $25.61 and a 12-month high of $45.85. The stock has a market capitalization of $989.91, a price-to-earnings ratio of 19.97 and a beta of 1.77.
Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Friday, November 3rd. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.11. Gibraltar Industries had a return on equity of 10.77% and a net margin of 3.08%. The firm had revenue of $274.57 million for the quarter, compared to the consensus estimate of $275.80 million. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s revenue was up .7% on a year-over-year basis. research analysts predict that Gibraltar Industries, Inc. will post 1.64 earnings per share for the current year.
Several equities analysts recently issued reports on ROCK shares. KeyCorp reissued a “buy” rating and issued a $39.00 target price on shares of Gibraltar Industries in a research report on Friday, November 17th. TheStreet raised Gibraltar Industries from a “c” rating to a “b-” rating in a research report on Friday, November 3rd. Finally, Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $42.00.
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Gibraltar Industries Profile
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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