Wealthfront Advisers LLC Purchases New Shares in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Wealthfront Advisers LLC bought a new position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,128 shares of the construction company's stock, valued at approximately $714,000.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of 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 buying an additional 277 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Gibraltar Industries by 296.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock valued at $42,000 after purchasing an additional 530 shares during the last quarter. Atticus Wealth Management LLC bought a new position in Gibraltar Industries in the fourth quarter valued at approximately $53,000. KBC Group NV increased its position in shares of Gibraltar Industries by 50.2% during the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company's stock worth $85,000 after purchasing an additional 480 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Gibraltar Industries by 33.3% during the 3rd quarter. Quarry LP now owns 1,318 shares of the construction company's stock worth $92,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 98.39% of the company's stock.

Gibraltar Industries Stock Up 1.1 %

Shares of ROCK stock traded up $0.73 on Wednesday, reaching $66.12. The stock had a trading volume of 253,653 shares, compared to its average volume of 181,531. Gibraltar Industries, Inc. has a 12 month low of $55.31 and a 12 month high of $81.90. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.79 and a beta of 1.20. The firm's 50-day moving average is $62.37 and its two-hundred day moving average is $65.85.

Remove Ads

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The firm had revenue of $302.06 million for the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business's revenue for the quarter was down 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 20th.

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.