Gibraltar Industries (NASDAQ:ROCK) Sees Unusually-High Trading Volume – Here’s Why

Gibraltar Industries, Inc. (NASDAQ:ROCK) saw strong trading volume on Friday . 1,278,145 shares traded hands during trading, an increase of 469% from the previous session’s volume of 224,649 shares.The stock last traded at $62.27 and had previously closed at $61.23.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

Gibraltar Industries Stock Performance

The company’s 50 day moving average price is $57.43 and its 200-day moving average price is $62.20. The stock has a market cap of $1.84 billion, a P/E ratio of 13.98 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business had revenue of $290.02 million for the quarter, compared to analysts’ expectations of $296.77 million. During the same period in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Transactions at Gibraltar Industries

In related news, Director James B. Nish sold 2,670 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $57.58, for a total transaction of $153,738.60. Following the completion of the sale, the director now directly owns 13,148 shares of the company’s stock, valued at approximately $757,061.84. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings in shares of Gibraltar Industries by 645.1% in the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after buying an additional 458 shares during the last quarter. Brooklyn Investment Group bought a new stake in Gibraltar Industries in the first quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock valued at $42,000 after acquiring an additional 530 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Gibraltar Industries by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company’s stock valued at $47,000 after acquiring an additional 313 shares during the period. Finally, Atticus Wealth Management LLC purchased a new stake in shares of Gibraltar Industries during the 4th quarter worth approximately $53,000. Institutional investors own 98.39% of the company’s stock.

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.