Gibraltar Industries, Inc. (NASDAQ:ROCK) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Posted by on Aug 6th, 2023

Mirae Asset Global Investments Co. Ltd. raised its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK – Free Report) by 26.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 257,812 shares of the construction company’s stock after acquiring an additional 54,715 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.84% of Gibraltar Industries worth $12,504,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ROCK. JPMorgan Chase & Co. raised its holdings in Gibraltar Industries by 59.5% in the 1st quarter. JPMorgan Chase & Co. now owns 33,829 shares of the construction company’s stock valued at $1,453,000 after acquiring an additional 12,621 shares during the last quarter. US Bancorp DE raised its holdings in Gibraltar Industries by 60.8% in the 1st quarter. US Bancorp DE now owns 2,160 shares of the construction company’s stock valued at $93,000 after acquiring an additional 817 shares during the last quarter. Citigroup Inc. raised its holdings in Gibraltar Industries by 12.2% in the 1st quarter. Citigroup Inc. now owns 31,852 shares of the construction company’s stock valued at $1,368,000 after acquiring an additional 3,456 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Gibraltar Industries by 23.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the construction company’s stock valued at $138,000 after acquiring an additional 614 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Gibraltar Industries by 57.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,585 shares of the construction company’s stock valued at $755,000 after acquiring an additional 6,421 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors and hedge funds.

Gibraltar Industries Trading Up 2.2 %

ROCK stock opened at $73.38 on Friday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 25.57 and a beta of 1.16. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $60.93 and a 200-day simple moving average of $54.85. Gibraltar Industries, Inc. has a 52 week low of $36.58 and a 52 week high of $74.85.

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $364.90 million during the quarter, compared to the consensus estimate of $355.45 million. Gibraltar Industries had a return on equity of 13.87% and a net margin of 6.56%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. On average, equities research analysts expect that Gibraltar Industries, Inc. will post 3.98 EPS for the current year.

Insider Buying and Selling

In related news, Director James B. Nish sold 4,963 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $56.69, for a total transaction of $281,352.47. Following the completion of the sale, the director now directly owns 11,976 shares of the company’s stock, valued at approximately $678,919.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Friday.

Gibraltar Industries Company Profile

(Free Report)

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.

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

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