State of Tennessee Treasury Department Purchases 8,921 Shares of Gibraltar Industries Inc (NASDAQ:ROCK)

State of Tennessee Treasury Department increased its position in shares of Gibraltar Industries Inc (NASDAQ:ROCK) by 69.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,783 shares of the construction company’s stock after buying an additional 8,921 shares during the period. State of Tennessee Treasury Department’s holdings in Gibraltar Industries were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROCK. Morgan Stanley raised its stake in Gibraltar Industries by 1,530.1% during the second quarter. Morgan Stanley now owns 142,081 shares of the construction company’s stock worth $5,734,000 after buying an additional 133,365 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new stake in Gibraltar Industries in the second quarter valued at $4,068,000. Renaissance Technologies LLC increased its stake in Gibraltar Industries by 42.2% in the second quarter. Renaissance Technologies LLC now owns 304,400 shares of the construction company’s stock valued at $12,286,000 after purchasing an additional 90,347 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Gibraltar Industries by 258.3% in the second quarter. Hodges Capital Management Inc. now owns 112,855 shares of the construction company’s stock valued at $4,555,000 after purchasing an additional 81,355 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Gibraltar Industries by 6.2% in the second quarter. Nuveen Asset Management LLC now owns 1,383,339 shares of the construction company’s stock valued at $55,832,000 after purchasing an additional 80,393 shares in the last quarter. 99.13% of the stock is owned by institutional investors and hedge funds.

ROCK opened at $52.29 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.46 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $48.08 and a two-hundred day moving average price of $42.02. The company has a market cap of $1.69 billion, a P/E ratio of 21.49 and a beta of 1.50. Gibraltar Industries Inc has a 1-year low of $31.96 and a 1-year high of $55.15.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Friday, October 25th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. The company had revenue of $299.20 million during the quarter, compared to the consensus estimate of $290.20 million. Gibraltar Industries had a net margin of 6.20% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Gibraltar Industries Inc will post 2.55 EPS for the current fiscal year.

Several research firms have weighed in on ROCK. ValuEngine raised shares of Gibraltar Industries from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. KeyCorp lifted their price target on shares of Gibraltar Industries from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, BidaskClub downgraded shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $46.33.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.

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

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