Cornercap Investment Counsel Inc. Trims Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Cornercap Investment Counsel Inc. trimmed its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 50.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,530 shares of the construction company’s stock after selling 7,724 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Gibraltar Industries were worth $527,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Gibraltar Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock worth $584,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC raised its holdings in Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after purchasing an additional 170 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Gibraltar Industries by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the construction company’s stock worth $1,049,000 after buying an additional 200 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Gibraltar Industries by 1.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock worth $965,000 after buying an additional 211 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after buying an additional 277 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Price Performance

ROCK stock opened at $70.66 on Friday. The company’s 50 day simple moving average is $69.19 and its 200-day simple moving average is $70.26. The firm has a market capitalization of $2.14 billion, a PE ratio of 19.63 and a beta of 1.14. 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 earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (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 firm had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. During the same quarter last year, the business earned $1.38 earnings per share. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Analysts Set New Price Targets

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

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.