Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Sold by Nordea Investment Management AB

Posted by Defense World Staff on May 11th, 2023

Nordea Investment Management AB cut its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK – Get Rating) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,068 shares of the construction company’s stock after selling 3,280 shares during the period. Nordea Investment Management AB owned 0.35% of Gibraltar Industries worth $4,987,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mesirow Institutional Investment Management Inc. bought a new position in shares of Gibraltar Industries in the third quarter valued at $7,612,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gibraltar Industries by 43.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 510,809 shares of the construction company’s stock worth $23,436,000 after acquiring an additional 155,123 shares during the period. State Street Corp lifted its position in shares of Gibraltar Industries by 12.7% during the 2nd quarter. State Street Corp now owns 1,256,065 shares of the construction company’s stock worth $48,673,000 after buying an additional 141,780 shares during the period. Federated Hermes Inc. bought a new position in shares of Gibraltar Industries during the 1st quarter worth approximately $5,777,000. Finally, Kestrel Investment Management Corp bought a new stake in shares of Gibraltar Industries during the third quarter worth $5,442,000. Institutional investors and hedge funds own 98.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ROCK. TheStreet upgraded shares of Gibraltar Industries from a “c+” rating to a “b-” rating in a report on Thursday, February 16th. StockNews.com started coverage on Gibraltar Industries in a research note on Thursday, March 16th. They set a “buy” rating on the stock.

Gibraltar Industries Stock Performance

Shares of ROCK stock opened at $55.31 on Thursday. The firm has a 50 day moving average of $49.31 and a 200-day moving average of $50.04. Gibraltar Industries, Inc. has a 52 week low of $36.58 and a 52 week high of $57.53. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 19.97 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $293.27 million during the quarter, compared to analysts’ expectations of $298.90 million. Gibraltar Industries had a return on equity of 13.43% and a net margin of 6.45%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. On average, equities analysts forecast that Gibraltar Industries, Inc. will post 3.55 earnings per share for the current year.

Gibraltar Industries Company Profile

(Get Rating)

Gibraltar Industries, Inc engages in the manufacture and provision of products and services for the renewable energy, residential, and infrastructure markets. It operates through the following segments: Residential, Infrastructure, Renewable and Agtech. The Residential segment includes roof and foundation ventilation products, rain dispersion products and roofing accessories, centralized mail systems, and electronic package solutions.