Wesbanco Bank Inc. Acquires 6,400 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Wesbanco Bank Inc. grew its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,428 shares of the construction company’s stock after purchasing an additional 6,400 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.08% of Gibraltar Industries worth $1,708,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Gibraltar Industries in the second quarter worth approximately $39,000. GAMMA Investing LLC boosted its position in Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after acquiring an additional 170 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Gibraltar Industries in the 2nd quarter valued at $55,000. Quarry LP raised its position in shares of Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after acquiring an additional 802 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its stake in shares of Gibraltar Industries by 92.1% during the 2nd quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock worth $91,000 after purchasing an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Stock Down 1.5 %

NASDAQ:ROCK opened at $67.23 on Wednesday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.07 and a beta of 1.14. Gibraltar Industries, Inc. has a 52 week low of $59.66 and a 52 week high of $87.40. The firm has a 50 day moving average of $68.11 and a 200 day moving average of $71.16.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Wednesday, July 31st. The construction company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.08). The business had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 EPS. As a group, analysts expect that Gibraltar Industries, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday.

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.