Citigroup Inc. Increases Stock Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Citigroup Inc. lifted its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,768 shares of the construction company's stock after buying an additional 13,392 shares during the quarter. Citigroup Inc. owned about 0.19% of Gibraltar Industries worth $4,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of ROCK. Victory Capital Management Inc. boosted its holdings 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 worth $103,613,000 after acquiring an additional 322,422 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Gibraltar Industries by 14.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company's stock worth $74,320,000 after purchasing an additional 138,194 shares during the period. Millennium Management LLC raised its stake in shares of Gibraltar Industries by 196.4% during the 2nd quarter. Millennium Management LLC now owns 123,438 shares of the construction company's stock worth $8,462,000 after purchasing an additional 81,791 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 during the period. Finally, Swedbank AB raised its stake in shares of Gibraltar Industries by 34.1% during the 2nd quarter. Swedbank AB now owns 283,251 shares of the construction company's stock worth $19,417,000 after purchasing an additional 71,951 shares during the period. Institutional investors and hedge funds 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 Price Performance

Shares of NASDAQ ROCK traded up $0.32 during mid-day trading on Wednesday, reaching $72.01. 168,717 shares of the company's stock were exchanged, compared to its average volume of 175,560. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.91 and a beta of 1.15. Gibraltar Industries, Inc. has a 52 week low of $61.92 and a 52 week high of $87.40. The firm has a 50-day moving average price of $69.65 and a two-hundred day moving average price of $70.07.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The business had revenue of $361.20 million for the quarter, compared to analysts' expectations of $360.43 million. During the same period in the previous year, the business posted $1.38 EPS. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal 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.