Wedge Capital Management L L P NC Makes New Investment in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Wedge Capital Management L L P NC acquired a new position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 29,329 shares of the construction company's stock, valued at approximately $1,727,000. Wedge Capital Management L L P NC owned 0.10% of Gibraltar Industries at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Gibraltar Industries by 27.8% during the third 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 during the period. State Street Corp lifted its holdings 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 buying an additional 56,008 shares during the period. Geode Capital Management LLC boosted its stake in shares of Gibraltar Industries by 4.1% in the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company's stock worth $58,676,000 after buying an additional 32,950 shares during the last quarter. FMR LLC grew its holdings in Gibraltar Industries by 1,663.5% during the third 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 raised its position in Gibraltar Industries by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company's stock valued at $45,318,000 after acquiring an additional 81,401 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, December 31st.

Gibraltar Industries Trading Up 1.0 %

Shares of Gibraltar Industries stock traded up $0.64 during trading hours on Tuesday, reaching $63.15. The stock had a trading volume of 93,656 shares, compared to its average volume of 166,603. Gibraltar Industries, Inc. has a twelve month low of $55.31 and a twelve month high of $87.40. The firm has a market capitalization of $1.92 billion, a PE ratio of 17.54 and a beta of 1.19. The stock's 50 day moving average is $65.35 and its 200 day moving average is $68.06.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly 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 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%. Gibraltar Industries's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 earnings per share. As a group, sell-side analysts predict 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.