Gibraltar Industries (NASDAQ:ROCK) Issues Earnings Results

Gibraltar Industries (NASDAQ:ROCKGet Rating) released its quarterly earnings results on Wednesday. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.16, Briefing.com reports. The business had revenue of $366.90 million during the quarter, compared to the consensus estimate of $364.43 million. Gibraltar Industries had a return on equity of 12.07% and a net margin of 5.88%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. Gibraltar Industries updated its FY22 guidance to $3.20-3.40 EPS and its FY 2022 guidance to $3.20-$3.40 EPS.

Gibraltar Industries Price Performance

ROCK stock opened at $44.15 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 17.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.04 and a current ratio of 1.74. Gibraltar Industries has a 52-week low of $36.86 and a 52-week high of $79.40. The business has a 50-day simple moving average of $42.20 and a two-hundred day simple moving average of $44.56.

Insider Buying and Selling at Gibraltar Industries

In related news, Director Linda Kristine Myers purchased 1,600 shares of the business’s stock in a transaction on Friday, May 20th. The stock was acquired at an average price of $38.16 per share, for a total transaction of $61,056.00. Following the purchase, the director now owns 12,683 shares of the company’s stock, valued at $483,983.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of Gibraltar Industries in the 1st quarter worth approximately $67,000. Point72 Hong Kong Ltd lifted its stake in Gibraltar Industries by 323.2% in the first quarter. Point72 Hong Kong Ltd now owns 1,625 shares of the construction company’s stock valued at $70,000 after purchasing an additional 1,241 shares during the last quarter. US Bancorp DE lifted its stake in Gibraltar Industries by 60.8% in the first quarter. US Bancorp DE now owns 2,160 shares of the construction company’s stock valued at $93,000 after purchasing an additional 817 shares during the last quarter. Captrust Financial Advisors lifted its stake in Gibraltar Industries by 67.9% in the first quarter. Captrust Financial Advisors now owns 2,379 shares of the construction company’s stock valued at $102,000 after purchasing an additional 962 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Gibraltar Industries by 23.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the construction company’s stock valued at $138,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About Gibraltar Industries

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Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. 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.

Further Reading

Earnings History for Gibraltar Industries (NASDAQ:ROCK)

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