KBC Group NV Sells 13,485 Shares of Gibraltar Industries, Inc. (ROCK)
KBC Group NV reduced its position in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 24.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,636 shares of the construction company’s stock after selling 13,485 shares during the period. KBC Group NV owned 0.13% of Gibraltar Industries worth $1,449,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in ROCK. Ameritas Investment Partners Inc. bought a new position in Gibraltar Industries during the first quarter valued at $112,000. LS Investment Advisors LLC raised its position in Gibraltar Industries by 175.4% in the first quarter. LS Investment Advisors LLC now owns 3,368 shares of the construction company’s stock valued at $139,000 after buying an additional 2,145 shares during the period. State of Alaska Department of Revenue raised its position in Gibraltar Industries by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 3,490 shares of the construction company’s stock valued at $143,000 after buying an additional 100 shares during the period. GW&K Investment Management LLC raised its position in Gibraltar Industries by 33.7% in the second quarter. GW&K Investment Management LLC now owns 6,770 shares of the construction company’s stock valued at $241,000 after buying an additional 1,705 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Gibraltar Industries by 14.1% in the first quarter. BNP Paribas Arbitrage SA now owns 6,223 shares of the construction company’s stock valued at $256,000 after buying an additional 771 shares during the period.
Gibraltar Industries, Inc. (NASDAQ ROCK) opened at 29.25 on Thursday. The firm has a market capitalization of $927.46 million, a price-to-earnings ratio of 41.85 and a beta of 1.83. Gibraltar Industries, Inc. has a 12-month low of $25.61 and a 12-month high of $48.05. The company’s 50 day moving average price is $30.33 and its 200-day moving average price is $35.62.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $247.63 million for the quarter, compared to analysts’ expectations of $251.97 million. Gibraltar Industries had a return on equity of 10.14% and a net margin of 2.38%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Gibraltar Industries, Inc. will post $1.58 earnings per share for the current fiscal year.
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Several research analysts have weighed in on ROCK shares. Zacks Investment Research raised Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered Gibraltar Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $19.00 price target (down previously from $49.00) on shares of Gibraltar Industries in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Gibraltar Industries presently has an average rating of “Hold” and a consensus price target of $37.00.
About Gibraltar Industries
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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