Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 94.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,900 shares of the construction company's stock after selling 305,810 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Gibraltar Industries worth $1,182,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Texas Permanent School Fund Corp grew its position in shares of 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 purchasing an additional 7,369 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Gibraltar Industries in the second quarter valued at about $770,000. Swedbank AB lifted its stake in shares of Gibraltar Industries by 34.1% in the second quarter. Swedbank AB now owns 283,251 shares of the construction company's stock worth $19,417,000 after buying an additional 71,951 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gibraltar Industries in the third quarter worth about $792,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Gibraltar Industries by 47.6% in the second quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company's stock worth $1,242,000 after buying an additional 5,842 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Gibraltar Industries Stock Performance

Shares of NASDAQ:ROCK traded down $1.38 during midday trading on Thursday, hitting $68.64. The company's stock had a trading volume of 53,480 shares, compared to its average volume of 173,929. The business's 50 day simple moving average is $69.70 and its 200 day simple moving average is $69.98. The company has a market cap of $2.08 billion, a P/E ratio of 19.45 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.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping 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 company had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. During the same period in the previous year, the firm earned $1.38 earnings per share. Gibraltar Industries's quarterly revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, December 3rd.

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.