Gibraltar Industries (ROCK) Streamlines Portfolio, Preparing to Sell Renewable Divisions

Gibraltar Industries, Inc. (NASDAQ:ROCK) ranks among the top NASDAQ stocks with low P/E ratios. Presenting at the Small-Cap Virtual Conference on September 18, Gibraltar Industries, Inc. (NASDAQ:ROCK) announced a strategic shift away from renewables and toward building materials.

Gibraltar Industries, Inc. (NASDAQ:ROCK) is focusing on building products, which currently make up 70% of the company’s inventory. Gibraltar states that it aims to grow by selling directly to contractors in the $6 billion metal roofing sector.

On the other side, the renewables division sale is moving forward, with potential buyers whittled down in the second round. In that regard, Gibraltar Industries, Inc. (NASDAQ:ROCK) has decreased its number of companies from 19 in 2019 to just 6, with the goal of selling five of them post-renewables.

Gibraltar Industries, Inc. (NASDAQ:ROCK) is a prominent manufacturer and provider of products and services in the renewable energy, residential, agricultural technology, and infrastructure markets.

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Disclosure: None. This article is originally published at Insider Monkey.