Cortina Asset Management LLC Has $24.351 Million Position in Gibraltar Industries Inc (ROCK)
Cortina Asset Management LLC increased its position in shares of Gibraltar Industries Inc (NASDAQ:ROCK) by 20.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 591,035 shares of the construction company’s stock after buying an additional 99,468 shares during the period. Gibraltar Industries makes up about 1.0% of Cortina Asset Management LLC’s holdings, making the stock its 23rd largest position. Cortina Asset Management LLC’s holdings in Gibraltar Industries were worth $24,351,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in Gibraltar Industries during the first quarter worth approximately $112,000. LS Investment Advisors LLC boosted 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 worth $139,000 after buying an additional 2,145 shares during the last quarter. Pacad Investment Ltd. bought a new position in Gibraltar Industries during the fourth quarter worth approximately $142,000. State of Alaska Department of Revenue boosted 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 worth $143,000 after buying an additional 100 shares during the last quarter. Finally, GW&K Investment Management LLC bought a new position in Gibraltar Industries during the first quarter worth approximately $209,000. 98.50% of the stock is currently owned by institutional investors.
Gibraltar Industries Inc (NASDAQ:ROCK) traded down 1.56% during midday trading on Monday, reaching $31.55. The company’s stock had a trading volume of 161,134 shares. The company’s 50-day moving average price is $35.78 and its 200-day moving average price is $40.81. The company has a market capitalization of $999.72 million, a price-to-earnings ratio of 35.49 and a beta of 2.03. Gibraltar Industries Inc has a 1-year low of $29.30 and a 1-year high of $48.05.
Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Friday, May 5th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. Gibraltar Industries had a return on equity of 11.20% and a net margin of 3.56%. The business had revenue of $206.60 million for the quarter, compared to analyst estimates of $209.88 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue was down 11.6% compared to the same quarter last year. On average, analysts predict that Gibraltar Industries Inc will post $1.63 earnings per share for the current fiscal year.
Several analysts have recently issued reports on ROCK shares. Wedbush reduced their price target on shares of Gibraltar Industries from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 21st. Zacks Investment Research raised shares of Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. TheStreet cut shares of Gibraltar Industries from a “b” rating to a “c+” rating in a research report on Friday, February 17th. Finally, KeyCorp reissued 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.
Gibraltar Industries Company Profile
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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