Pacer Advisors Inc. Decreases Holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Pacer Advisors Inc. cut its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 906,225 shares of the construction company’s stock after selling 177,945 shares during the period. Pacer Advisors Inc.’s holdings in Gibraltar Industries were worth $63,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Gibraltar Industries by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 2,888,642 shares of the construction company’s stock worth $232,622,000 after buying an additional 68,728 shares during the period. Victory Capital Management Inc. increased its position in 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 valued at $103,613,000 after purchasing an additional 322,422 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Gibraltar Industries by 1.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after purchasing an additional 9,764 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Gibraltar Industries by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock valued at $45,318,000 after purchasing an additional 81,401 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Gibraltar Industries by 16.1% during the third quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company’s stock valued at $22,955,000 after buying an additional 45,416 shares during the period. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Gibraltar Industries Stock Performance

Shares of ROCK opened at $69.72 on Friday. Gibraltar Industries, Inc. has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The firm’s 50-day simple moving average is $69.44 and its two-hundred day simple moving average is $70.23. The stock has a market cap of $2.12 billion, a PE ratio of 19.37 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. During the same quarter last year, the company earned $1.38 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts predict that Gibraltar Industries, Inc. will post 4.18 EPS for the current year.

Gibraltar Industries 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.