Louisiana State Employees Retirement System Has $460,000 Stake in Gibraltar Industries, Inc. (NASDAQ:ROCK)
Louisiana State Employees Retirement System held its position in Gibraltar Industries, Inc. (NASDAQ:ROCK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,900 shares of the construction company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Gibraltar Industries were worth $460,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ROCK. BlackRock Inc. increased its stake in shares of Gibraltar Industries by 81,038.7% in the first quarter. BlackRock Inc. now owns 3,777,007 shares of the construction company’s stock worth $155,611,000 after buying an additional 3,772,352 shares in the last quarter. Meridian Management Co. acquired a new stake in shares of Gibraltar Industries during the first quarter worth approximately $1,719,000. Norges Bank acquired a new stake in shares of Gibraltar Industries during the fourth quarter worth approximately $17,165,000. Vanguard Group Inc. increased its stake in shares of Gibraltar Industries by 12.1% in the first quarter. Vanguard Group Inc. now owns 2,192,418 shares of the construction company’s stock worth $90,327,000 after buying an additional 236,562 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of Gibraltar Industries by 20.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,110,626 shares of the construction company’s stock worth $45,757,000 after buying an additional 189,929 shares in the last quarter. 98.96% of the stock is owned by institutional investors.
Shares of Gibraltar Industries, Inc. (ROCK) traded up 0.88% on Friday, reaching $28.75. The company had a trading volume of 217,811 shares. Gibraltar Industries, Inc. has a 52-week low of $28.05 and a 52-week high of $48.05. The company has a 50 day moving average price of $32.32 and a 200 day moving average price of $36.72. The stock has a market capitalization of $911.61 million, a PE ratio of 41.13 and a beta of 1.83.
Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Thursday, July 27th. The construction company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Gibraltar Industries had a net margin of 2.38% and a return on equity of 10.14%. The company had revenue of $247.63 million for the quarter, compared to the consensus estimate of $251.97 million. During the same period in the previous year, the business earned $0.51 EPS. The company’s revenue was down 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Gibraltar Industries, Inc. will post $1.58 earnings per share for the current year.
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A number of brokerages have recently commented on ROCK. Zacks Investment Research raised Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub raised Gibraltar Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $49.00) on shares of Gibraltar Industries in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.
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’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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