Gibraltar Industries, Inc. (NASDAQ:ROCK) Short Interest Up 23.6% in October

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 497,300 shares, a growth of 23.6% from the October 15th total of 402,200 shares. Based on an average trading volume of 181,500 shares, the short-interest ratio is currently 2.7 days. Currently, 1.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

Gibraltar Industries Stock Down 1.8 %

Shares of Gibraltar Industries stock traded down $1.27 during trading on Friday, reaching $70.74. The company’s stock had a trading volume of 28,082 shares, compared to its average volume of 175,687. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 20.00 and a beta of 1.14. The company has a 50-day simple moving average of $69.09 and a two-hundred day simple moving average of $70.28. Gibraltar Industries has a 1-year low of $61.92 and a 1-year high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.01. The firm had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. As a group, analysts anticipate that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Trading of Gibraltar Industries

A number of hedge funds have recently added to or reduced their stakes in ROCK. O Shaughnessy Asset Management LLC grew its position in shares of Gibraltar Industries by 110.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,503 shares of the construction company’s stock valued at $1,168,000 after acquiring an additional 7,627 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Gibraltar Industries by 27.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after purchasing an additional 7,369 shares during the period. Intech Investment Management LLC purchased a new position in Gibraltar Industries in the 2nd quarter valued at about $770,000. NBW Capital LLC acquired a new position in Gibraltar Industries in the 1st quarter valued at $2,106,000. Finally, Swedbank AB lifted its holdings in Gibraltar Industries by 34.1% in the 2nd quarter. Swedbank AB now owns 283,251 shares of the construction company’s stock valued at $19,417,000 after purchasing an additional 71,951 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.