Gibraltar Industries Inc. (ROCK) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors raised its position in shares of Gibraltar Industries Inc. (NASDAQ:ROCK) by 96.9% during the second quarter, Holdings Channel reports. The fund owned 120,852 shares of the company’s stock after buying an additional 59,476 shares during the period. Nationwide Fund Advisors owned approximately 0.38% of Gibraltar Industries worth $3,815,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in ROCK. Norges Bank acquired a new position in shares of Gibraltar Industries during the fourth quarter worth about $11,021,000. Glenmede Trust Co. NA purchased a new stake in Gibraltar Industries during the first quarter worth approximately $529,000. Teachers Advisors Inc. boosted its stake 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 during the period. Prudential Financial Inc. boosted its stake 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 during the period. Finally, Algert Global LLC boosted its stake in Gibraltar Industries by 15.1% in the first quarter. Algert Global LLC now owns 26,850 shares of the company’s stock worth $768,000 after buying an additional 3,530 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gibraltar Industries Inc. (NASDAQ:ROCK) traded up 1.63% during mid-day trading on Wednesday, reaching $37.41. The company’s stock had a trading volume of 20,949 shares. The firm’s 50-day moving average price is $37.44 and its 200 day moving average price is $32.44. The firm has a market cap of $1.18 billion, a P/E ratio of 31.95 and a beta of 2.25. Gibraltar Industries Inc. has a 12-month low of $18.23 and a 12-month high of $40.00.
Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $271.27 million. During the same period last year, the business posted $0.25 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, analysts expect that Gibraltar Industries Inc. will post $1.45 EPS for the current year.
A number of analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $38.00 price objective (up previously from $33.00) on shares of Gibraltar Industries in a research report on Friday, July 15th. Zacks Investment Research upgraded 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.
Gibraltar Industries Company 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 operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
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