Gibraltar Industries, Inc. (NASDAQ:ROCK) Short Interest Update

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 295,400 shares, a decrease of 27.8% from the December 15th total of 409,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 195,000 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On Gibraltar Industries

Several institutional investors have recently bought and sold shares of ROCK. FMR LLC grew its stake in Gibraltar Industries by 1,663.5% in the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after purchasing an additional 685,462 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Gibraltar Industries by 27.8% during the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after purchasing an additional 322,422 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Gibraltar Industries by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock worth $74,320,000 after purchasing an additional 138,194 shares in the last quarter. Millennium Management LLC increased its position in shares of Gibraltar Industries by 196.4% during the second quarter. Millennium Management LLC now owns 123,438 shares of the construction company’s stock worth $8,462,000 after purchasing an additional 81,791 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Gibraltar Industries by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock worth $45,318,000 after purchasing an additional 81,401 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Performance

Shares of ROCK traded up $0.10 during mid-day trading on Friday, reaching $62.30. The stock had a trading volume of 64,804 shares, compared to its average volume of 166,021. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 17.32 and a beta of 1.19. Gibraltar Industries has a 12 month low of $55.31 and a 12 month high of $87.40. The business has a fifty day moving average of $65.79 and a 200 day moving average of $68.13.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. During the same period last year, the company posted $1.38 earnings per share. Gibraltar Industries’s quarterly revenue was down 7.6% on a year-over-year basis. On average, research analysts forecast that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 31st.

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.