Pacer Advisors Inc. Lowers Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Pacer Advisors Inc. lessened its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 16.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 906,225 shares of the construction company's stock after selling 177,945 shares during the period. Pacer Advisors Inc. owned about 2.99% of Gibraltar Industries worth $63,372,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ROCK. Farther Finance Advisors LLC increased its stake in shares of Gibraltar Industries by 271.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company's stock worth $27,000 after purchasing an additional 277 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Gibraltar Industries during the 2nd quarter worth $39,000. GAMMA Investing LLC increased its holdings in Gibraltar Industries by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company's stock worth $51,000 after acquiring an additional 170 shares during the last quarter. nVerses Capital LLC bought a new stake in Gibraltar Industries in the 2nd quarter valued at about $55,000. Finally, Quarry LP lifted its holdings in Gibraltar Industries by 428.9% during the second quarter. Quarry LP now owns 989 shares of the construction company's stock valued at $68,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Gibraltar Industries from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 22nd.

Gibraltar Industries Stock Performance

ROCK stock traded up $1.31 during midday trading on Friday, reaching $71.03. 311,221 shares of the company's stock traded hands, compared to its average volume of 176,257. The firm has a market capitalization of $2.16 billion, a PE ratio of 19.73 and a beta of 1.14. The company has a 50-day moving average price of $69.49 and a two-hundred day moving average price of $70.21. Gibraltar Industries, Inc. has a 52 week low of $61.92 and a 52 week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million during 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%. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. As a group, analysts predict that Gibraltar Industries, Inc. will post 4.18 EPS 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.