Charles Schwab Investment Management Inc. Acquires 19,614 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Charles Schwab Investment Management Inc. boosted its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 410,781 shares of the construction company's stock after purchasing an additional 19,614 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.35% of Gibraltar Industries worth $28,726,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ROCK. Texas Permanent School Fund Corp grew its stake in Gibraltar Industries by 27.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company's stock valued at $2,331,000 after acquiring an additional 7,369 shares during the period. Intech Investment Management LLC acquired a new stake in Gibraltar Industries in the second quarter valued at approximately $770,000. Swedbank AB grew its stake in Gibraltar Industries by 34.1% in the second quarter. Swedbank AB now owns 283,251 shares of the construction company's stock valued at $19,417,000 after acquiring an additional 71,951 shares during the period. Hsbc Holdings PLC grew its stake in Gibraltar Industries by 47.6% in the second quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company's stock valued at $1,242,000 after acquiring an additional 5,842 shares during the period. Finally, Quest Partners LLC grew its stake in Gibraltar Industries by 435.0% in the second quarter. Quest Partners LLC now owns 21,771 shares of the construction company's stock valued at $1,492,000 after acquiring an additional 17,702 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research report on Tuesday.

Gibraltar Industries Trading Down 1.9 %

Shares of NASDAQ:ROCK traded down $1.35 during mid-day trading on Thursday, hitting $70.66. 108,240 shares of the company traded hands, compared to its average volume of 175,273. The stock has a market cap of $2.14 billion, a P/E ratio of 19.63 and a beta of 1.15. Gibraltar Industries, Inc. has a 12-month low of $61.92 and a 12-month high of $87.40. The stock has a 50-day moving average price of $69.72 and a two-hundred day moving average price of $70.08.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Gibraltar Industries Company 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.