Gibraltar Industries Inc. (ROCK) Position Raised by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its stake in shares of Gibraltar Industries Inc. (NASDAQ:ROCK) by 14.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 602,227 shares of the company’s stock after buying an additional 76,481 shares during the period. Ameriprise Financial Inc. owned 1.91% of Gibraltar Industries worth $19,011,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Gibraltar Industries during the fourth quarter valued at approximately $11,021,000. Aberdeen Asset Management PLC UK increased its position in Gibraltar Industries by 25.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 836,426 shares of the company’s stock worth $26,406,000 after buying an additional 171,234 shares in the last quarter. Renaissance Technologies LLC increased its position in Gibraltar Industries by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,039,153 shares of the company’s stock worth $29,720,000 after buying an additional 88,300 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Gibraltar Industries during the first quarter worth $2,503,000. Finally, Emerald Acquisition Ltd. purchased a new position in Gibraltar Industries during the second quarter worth $1,475,000. 98.37% of the stock is currently owned by institutional investors.
Gibraltar Industries Inc. (NASDAQ:ROCK) traded up 0.89% on Tuesday, reaching $36.35. The company’s stock had a trading volume of 158,335 shares. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 31.04 and a beta of 2.16. Gibraltar Industries Inc. has a 1-year low of $15.95 and a 1-year high of $40.00. The firm’s 50 day moving average price is $37.53 and its 200-day moving average price is $31.53.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The firm earned $263.10 million during the quarter, compared to analyst estimates of $271.27 million. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts forecast that Gibraltar Industries Inc. will post $1.45 earnings per share for the current year.
ROCK has been the topic of a number of recent research reports. Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a report on Monday, July 18th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Gibraltar Industries in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.80.
About Gibraltar Industries
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 operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
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