PDT Partners LLC Purchases New Shares in Gibraltar Industries, Inc. (NASDAQ:ROCK)

PDT Partners LLC purchased a new stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 6,612 shares of the construction company’s stock, valued at approximately $462,000.

Several other hedge funds also recently made changes to their positions in ROCK. Farther Finance Advisors LLC boosted its position in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after purchasing an additional 277 shares in the last quarter. Innealta Capital LLC purchased a new position in Gibraltar Industries during the second quarter valued at $39,000. GAMMA Investing LLC raised its stake in Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after buying an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new position in Gibraltar Industries during the second quarter valued at $55,000. Finally, Quarry LP raised its stake 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 buying an additional 802 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Gibraltar Industries Trading Down 1.5 %

Shares of NASDAQ:ROCK opened at $71.69 on Wednesday. The stock has a fifty day simple moving average of $69.61 and a two-hundred day simple moving average of $70.08. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.91 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) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) 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 business had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, equities research analysts predict that Gibraltar Industries, Inc. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.