Van ECK Associates Corp Purchases 5,448 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Van ECK Associates Corp grew its holdings in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 27.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,020 shares of the construction company’s stock after buying an additional 5,448 shares during the quarter. Van ECK Associates Corp’s holdings in Gibraltar Industries were worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Gibraltar Industries by 91.5% during the first quarter. First Trust Advisors LP now owns 45,157 shares of the construction company’s stock valued at $1,834,000 after purchasing an additional 21,582 shares during the period. SG Americas Securities LLC bought a new position in Gibraltar Industries in the 4th quarter worth about $566,000. Aperio Group LLC increased its position in shares of Gibraltar Industries by 0.9% during the fourth quarter. Aperio Group LLC now owns 16,764 shares of the construction company’s stock worth $1,206,000 after acquiring an additional 151 shares during the period. BlackRock Inc. raised its stake in shares of Gibraltar Industries by 8.9% during the fourth quarter. BlackRock Inc. now owns 5,195,185 shares of the construction company’s stock valued at $373,741,000 after acquiring an additional 422,731 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Gibraltar Industries by 11.6% during the fourth quarter. New York State Common Retirement Fund now owns 69,039 shares of the construction company’s stock valued at $4,967,000 after acquiring an additional 7,190 shares in the last quarter. Hedge funds and other institutional investors own 97.88% of the company’s stock.

NASDAQ:ROCK opened at $75.71 on Friday. The firm has a 50-day simple moving average of $81.69. Gibraltar Industries, Inc. has a one year low of $43.86 and a one year high of $103.02. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 38.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 1.36.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, May 5th. The construction company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Gibraltar Industries had a return on equity of 13.46% and a net margin of 5.59%. The company had revenue of $287.60 million during the quarter, compared to analyst estimates of $274.75 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Gibraltar Industries’s revenue was up 33.5% on a year-over-year basis. Sell-side analysts expect that Gibraltar Industries, Inc. will post 3.41 EPS for the current fiscal year.

In other news, Director Linda Kristine Myers bought 962 shares of Gibraltar Industries stock in a transaction on Thursday, May 20th. The stock was acquired at an average cost of $77.71 per share, for a total transaction of $74,757.02. Following the completion of the acquisition, the director now owns 3,122 shares of the company’s stock, valued at approximately $242,610.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

Separately, Zacks Investment Research upgraded Gibraltar Industries from a “sell” rating to a “hold” rating and set a $97.00 target price for the company in a report on Tuesday, May 4th.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, conservation, residential, and infrastructure markets in North America and Asia. It operates through three segments: Renewable Energy and Conservation, Residential Products, and Infrastructure Products.

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Institutional Ownership by Quarter for Gibraltar Industries (NASDAQ:ROCK)

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