State Street Corp Purchases 56,008 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

State Street Corp boosted its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,278,283 shares of the construction company's stock after buying an additional 56,008 shares during the period. State Street Corp owned approximately 4.21% of Gibraltar Industries worth $89,390,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 322,422 shares during the period. Pacer Advisors Inc. lifted its stake in Gibraltar Industries by 14.6% in the second 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Gibraltar Industries by 1.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company's stock valued at $57,882,000 after buying an additional 9,764 shares during the period. FMR LLC boosted its position in shares of Gibraltar Industries by 1,663.5% during the third quarter. FMR LLC now owns 726,667 shares of the construction company's stock valued at $50,816,000 after buying an additional 685,462 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 81,401 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a report on Friday.

Gibraltar Industries Stock Performance

NASDAQ ROCK traded down $1.36 on Tuesday, reaching $64.86. 183,445 shares of the stock traded hands, compared to its average volume of 174,215. Gibraltar Industries, Inc. has a 12 month low of $61.92 and a 12 month high of $87.40. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 18.39 and a beta of 1.15. The company has a fifty day moving average price of $69.49 and a 200-day moving average price of $69.83.

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