Edgestream Partners L.P. Invests $1.47 Million in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Edgestream Partners L.P. acquired a new position in Gibraltar Industries, Inc. (NASDAQ:ROCK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,968 shares of the construction company’s stock, valued at approximately $1,466,000. Edgestream Partners L.P. owned about 0.07% of Gibraltar Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in Gibraltar Industries by 27.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after purchasing an additional 322,422 shares during the last quarter. Pacer Advisors Inc. grew its position in Gibraltar Industries by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock worth $74,320,000 after buying an additional 138,194 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Gibraltar Industries by 1.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after buying an additional 9,764 shares in the last quarter. FMR LLC lifted its position in shares of Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after acquiring an additional 685,462 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Gibraltar Industries by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock worth $45,318,000 after purchasing an additional 81,401 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Gibraltar Industries Stock Down 1.5 %

NASDAQ ROCK opened at $71.69 on Wednesday. Gibraltar Industries, Inc. has a twelve month low of $61.92 and a twelve month high of $87.40. The stock has a market cap of $2.18 billion, a P/E ratio of 19.91 and a beta of 1.15. The company’s 50-day simple moving average is $69.61 and its 200 day simple moving average is $70.08.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. Gibraltar Industries’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. Research analysts anticipate that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

About Gibraltar Industries

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.