Victory Capital Management Inc. Acquires 322,422 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Victory Capital Management Inc. lifted its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 27.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,481,674 shares of the construction company’s stock after acquiring an additional 322,422 shares during the quarter. Victory Capital Management Inc. owned 4.88% of Gibraltar Industries worth $103,613,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROCK. Farther Finance Advisors LLC grew its position in Gibraltar Industries by 271.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after acquiring an additional 277 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Gibraltar Industries in the second quarter worth $39,000. GAMMA Investing LLC increased its stake in shares of Gibraltar Industries by 30.6% in the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares during the period. nVerses Capital LLC purchased a new stake in Gibraltar Industries during the 2nd quarter valued at $55,000. Finally, Quarry LP boosted its position in Gibraltar Industries by 428.9% during the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd.

Gibraltar Industries Price Performance

ROCK opened at $72.36 on Thursday. Gibraltar Industries, Inc. has a one year low of $61.92 and a one year high of $87.40. The business has a 50 day simple moving average of $68.96 and a two-hundred day simple moving average of $70.27. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 20.10 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. As a group, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Gibraltar Industries Profile

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.