New York Life Investment Management LLC Takes Position in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Posted by Defense World Staff on Aug 17th, 2023

New York Life Investment Management LLC bought a new stake in Gibraltar Industries, Inc. (NASDAQ:ROCK – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,824 shares of the construction company’s stock, valued at approximately $476,000.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Gibraltar Industries in a research report on Thursday. They set a “strong-buy” rating on the stock.

Check Out Our Latest Stock Report on Gibraltar Industries

Insiders Place Their Bets

In other Gibraltar Industries news, Director James B. Nish sold 4,963 shares of Gibraltar Industries stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $56.69, for a total transaction of $281,352.47. Following the transaction, the director now directly owns 11,976 shares of the company’s stock, valued at $678,919.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Gibraltar Industries Price Performance

Shares of ROCK stock opened at $72.58 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.58 and a quick ratio of 1.04. The firm’s 50-day moving average is $63.65 and its two-hundred day moving average is $56.11. Gibraltar Industries, Inc. has a 12 month low of $36.58 and a 12 month high of $74.85. The company has a market capitalization of $2.21 billion, a PE ratio of 25.29 and a beta of 1.16.

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Gibraltar Industries had a net margin of 6.56% and a return on equity of 13.87%. The company had revenue of $364.90 million for the quarter, compared to the consensus estimate of $355.45 million. During the same period in the previous year, the firm earned $0.96 earnings per share. Gibraltar Industries’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that Gibraltar Industries, Inc. will post 3.98 earnings per share for the current year.

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.