California Public Employees Retirement System Increases Stake in Gibraltar Industries Inc. (ROCK)
California Public Employees Retirement System boosted its position in Gibraltar Industries Inc. (NASDAQ:ROCK) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 82,200 shares of the company’s stock after buying an additional 2,500 shares during the period. California Public Employees Retirement System owned 0.26% of Gibraltar Industries worth $2,595,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Gibraltar Industries during the fourth quarter worth about $11,021,000. Glenmede Trust Co. NA purchased a new position in Gibraltar Industries during the first quarter worth about $529,000. CIBC World Markets Inc. purchased a new position in Gibraltar Industries during the first quarter worth about $2,503,000. Teachers Advisors Inc. increased its position in Gibraltar Industries by 11.3% in the first quarter. Teachers Advisors Inc. now owns 54,152 shares of the company’s stock worth $1,549,000 after buying an additional 5,478 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Gibraltar Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 72,785 shares of the company’s stock worth $2,082,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Gibraltar Industries Inc. (NASDAQ:ROCK) traded down 0.19% during mid-day trading on Friday, hitting $37.15. The stock had a trading volume of 181,403 shares. The company has a 50-day moving average of $37.48 and a 200-day moving average of $32.20. Gibraltar Industries Inc. has a 12-month low of $18.23 and a 12-month high of $40.00. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 31.73 and a beta of 2.16.
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. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The business had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $271.27 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Gibraltar Industries Inc. will post $1.45 earnings per share for the current fiscal year.
ROCK has been the subject of a number of recent research reports. Zacks Investment Research raised Gibraltar Industries from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, June 30th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective (up from $33.00) on shares of Gibraltar Industries in a research report on Friday, July 15th.
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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