Federated Hermes Inc. Sells 5,771 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Federated Hermes Inc. reduced its stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,971 shares of the construction company’s stock after selling 5,771 shares during the quarter. Federated Hermes Inc.’s holdings in Gibraltar Industries were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Gibraltar Industries by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company’s stock valued at $90,769,000 after acquiring an additional 397,313 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Gibraltar Industries by 124.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 129,043 shares of the construction company’s stock valued at $7,601,000 after purchasing an additional 71,532 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Gibraltar Industries by 39.5% during the 4th quarter. JPMorgan Chase & Co. now owns 204,466 shares of the construction company’s stock valued at $12,043,000 after purchasing an additional 57,928 shares during the last quarter. State Street Corp grew its position in shares of Gibraltar Industries by 4.6% during the third quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after purchasing an additional 56,008 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Gibraltar Industries by 93.8% in the third quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock worth $7,226,000 after purchasing an additional 50,017 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 20th.

Gibraltar Industries Stock Performance

ROCK stock opened at $53.33 on Tuesday. The firm has a fifty day moving average price of $61.04 and a 200 day moving average price of $64.25. Gibraltar Industries, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $81.90. The firm has a market cap of $1.58 billion, a PE ratio of 11.93 and a beta of 1.22.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $302.06 million during the quarter, compared to analysts’ expectations of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, equities analysts predict that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

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.