Lord Abbett & CO. LLC Makes New $5.85 Million Investment in Gibraltar Industries, Inc. (NASDAQ:ROCK)

Lord Abbett & CO. LLC purchased a new stake in shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 72,585 shares of the construction company’s stock, valued at approximately $5,845,000. Lord Abbett & CO. LLC owned approximately 0.24% of Gibraltar Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Gibraltar Industries by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock valued at $222,717,000 after acquiring an additional 60,950 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Gibraltar Industries by 122.0% during the fourth quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock valued at $64,766,000 after acquiring an additional 450,665 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Gibraltar Industries by 9.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock valued at $50,120,000 after acquiring an additional 56,126 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Gibraltar Industries by 2.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 318,167 shares of the construction company’s stock valued at $25,129,000 after acquiring an additional 7,677 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Gibraltar Industries by 92.5% during the first quarter. Assenagon Asset Management S.A. now owns 314,911 shares of the construction company’s stock valued at $25,360,000 after acquiring an additional 151,298 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Down 1.0 %

ROCK stock traded down $0.80 during trading on Friday, hitting $76.40. 101,251 shares of the company’s stock traded hands, compared to its average volume of 171,299. The firm has a market capitalization of $2.33 billion, a P/E ratio of 20.48 and a beta of 1.15. The business has a fifty day simple moving average of $71.63 and a two-hundred day simple moving average of $75.77. Gibraltar Industries, Inc. has a 1 year low of $59.66 and a 1 year high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $292.51 million for the quarter, compared to analyst estimates of $296.29 million. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. Gibraltar Industries’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. On average, equities research analysts predict that Gibraltar Industries, Inc. will post 4.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th.

Gibraltar Industries 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.