Oppenheimer Asset Management Inc. Acquires 2,691 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Oppenheimer Asset Management Inc. raised its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 21.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,477 shares of the construction company’s stock after acquiring an additional 2,691 shares during the period. Oppenheimer Asset Management Inc. owned about 0.05% of Gibraltar Industries worth $1,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROCK. Farther Finance Advisors LLC grew its position in 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 acquiring an additional 277 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Gibraltar Industries during the second quarter valued at about $39,000. GAMMA Investing LLC boosted its stake in shares of Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after purchasing an additional 170 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gibraltar Industries during the second quarter valued at about $55,000. Finally, Quarry LP boosted its stake in shares of Gibraltar Industries by 428.9% during the second quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after purchasing an additional 802 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Trading Down 1.2 %

Shares of ROCK stock opened at $69.84 on Tuesday. The business’s 50-day moving average price is $69.28 and its 200-day moving average price is $70.26. Gibraltar Industries, Inc. has a 12 month low of $61.92 and a 12 month high of $87.40. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 19.40 and a beta of 1.14.

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

Analysts Set New Price Targets

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

Gibraltar Industries Company Profile

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.