Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,491 shares of the construction company's stock after purchasing an additional 5,226 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Gibraltar Industries worth $9,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROCK. Farther Finance Advisors LLC increased its position in shares of Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company's stock valued at $27,000 after acquiring an additional 277 shares during the period. Atticus Wealth Management LLC acquired a new stake in Gibraltar Industries during the fourth quarter worth about $53,000. KBC Group NV lifted its holdings in Gibraltar Industries by 50.2% in the fourth quarter. KBC Group NV now owns 1,436 shares of the construction company's stock valued at $85,000 after acquiring an additional 480 shares during the period. Quarry LP boosted its position in Gibraltar Industries by 33.3% in 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. Finally, SG Americas Securities LLC acquired a new stake in shares of Gibraltar Industries during the 4th quarter worth approximately $117,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Gibraltar Industries Stock Up 1.3 %

Shares of ROCK stock traded up $0.86 during trading hours on Tuesday, hitting $65.65. 191,055 shares of the company's stock were exchanged, compared to its average volume of 227,726. The firm has a market cap of $1.99 billion, a P/E ratio of 14.68 and a beta of 1.20. The firm has a 50 day moving average of $61.03 and a two-hundred day moving average of $66.00. Gibraltar Industries, Inc. has a fifty-two week low of $55.31 and a fifty-two week high of $81.90.

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