Principal Financial Group Inc. Sells 6,182 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Principal Financial Group Inc. cut its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 157,265 shares of the construction company’s stock after selling 6,182 shares during the period. Principal Financial Group Inc.’s holdings in Gibraltar Industries were worth $10,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in shares of Gibraltar Industries by 271.6% in the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after purchasing an additional 277 shares during the period. Semanteon Capital Management LP bought a new position in shares of Gibraltar Industries in the third quarter valued at about $891,000. Assenagon Asset Management S.A. raised its position in shares of Gibraltar Industries by 16.1% in the third quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company’s stock valued at $22,955,000 after purchasing an additional 45,416 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Gibraltar Industries by 1.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock valued at $965,000 after purchasing an additional 211 shares during the period. Finally, Roof Eidam Maycock Peralta LLC raised its position in shares of Gibraltar Industries by 2.0% in the third quarter. Roof Eidam Maycock Peralta LLC now owns 26,205 shares of the construction company’s stock valued at $1,833,000 after purchasing an additional 510 shares during the period. 98.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd.

Gibraltar Industries Stock Performance

NASDAQ:ROCK opened at $70.66 on Monday. Gibraltar Industries, Inc. has a 52 week low of $61.92 and a 52 week high of $87.40. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 19.63 and a beta of 1.14. The firm’s 50-day simple moving average is $69.19 and its 200 day simple moving average is $70.27.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The business had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. During the same period last year, the firm earned $1.38 earnings per share. Gibraltar Industries’s revenue for the quarter was down 7.6% compared to the same quarter last year. Sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.18 EPS for the current year.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. 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 for commercial and distributed generation scale solar installations.