Swedbank AB Grows Stock Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Swedbank AB grew its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,227 shares of the construction company’s stock after acquiring an additional 9,151 shares during the quarter. Swedbank AB’s holdings in Gibraltar Industries were worth $16,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROCK. Victory Capital Management Inc. increased its stake in Gibraltar Industries by 27.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock valued at $103,613,000 after purchasing an additional 322,422 shares in the last quarter. State Street Corp increased its position in shares of Gibraltar Industries by 4.6% in the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after acquiring an additional 56,008 shares during the period. Geode Capital Management LLC raised its stake in Gibraltar Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after acquiring an additional 32,950 shares during the last quarter. FMR LLC lifted its position in Gibraltar Industries by 1,663.5% during 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 stake in 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 valued at $45,318,000 after purchasing an additional 81,401 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 31st.

Gibraltar Industries Price Performance

ROCK stock opened at $61.37 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 17.05 and a beta of 1.19. Gibraltar Industries, Inc. has a 12 month low of $55.31 and a 12 month high of $87.40. The firm’s fifty day simple moving average is $63.79 and its 200-day simple moving average is $67.59.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million for 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% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current 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.