Gibraltar Industries, Inc. (NASDAQ:ROCK) Short Interest Up 23.6% in October

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 497,300 shares, a growth of 23.6% from the October 15th total of 402,200 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 181,500 shares, the short-interest ratio is presently 2.7 days.

Gibraltar Industries Stock Performance

Gibraltar Industries stock traded down $1.35 during mid-day trading on Friday, reaching $70.66. 100,015 shares of the company were exchanged, compared to its average volume of 171,138. Gibraltar Industries has a 12-month low of $61.92 and a 12-month high of $87.40. The business has a fifty day moving average of $69.19 and a 200 day moving average of $70.26. The firm has a market cap of $2.14 billion, a P/E ratio of 19.63 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.38 earnings per share. Sell-side analysts predict that Gibraltar Industries will post 4.18 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On Gibraltar Industries

Several institutional investors have recently bought and sold shares of ROCK. O Shaughnessy Asset Management LLC grew its stake in Gibraltar Industries by 110.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,503 shares of the construction company’s stock worth $1,168,000 after buying an additional 7,627 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Gibraltar Industries by 27.7% during 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 acquiring an additional 7,369 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Gibraltar Industries in the 2nd quarter valued at approximately $770,000. NBW Capital LLC acquired a new stake in Gibraltar Industries in the 1st quarter worth approximately $2,106,000. Finally, Swedbank AB grew its position in 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 last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.