Dynamic Technology Lab Private Ltd acquired a new stake in GCP Applied Technologies Inc. (NYSE:GCP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,986 shares of the construction company’s stock, valued at approximately $365,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in GCP Applied Technologies by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 89,614 shares of the construction company’s stock worth $2,733,000 after buying an additional 5,205 shares during the period. Cipher Capital LP increased its position in GCP Applied Technologies by 15.7% during the 2nd quarter. Cipher Capital LP now owns 74,255 shares of the construction company’s stock worth $2,265,000 after buying an additional 10,070 shares during the period. State Street Corp increased its position in GCP Applied Technologies by 1.6% during the 1st quarter. State Street Corp now owns 1,329,112 shares of the construction company’s stock worth $43,397,000 after buying an additional 20,927 shares during the period. Parametric Portfolio Associates LLC increased its position in GCP Applied Technologies by 53.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 93,297 shares of the construction company’s stock worth $3,046,000 after buying an additional 32,621 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of GCP Applied Technologies by 31.3% in the second quarter. Wells Fargo & Company MN now owns 221,019 shares of the construction company’s stock worth $6,741,000 after purchasing an additional 52,640 shares during the period. 82.37% of the stock is owned by institutional investors.
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A number of research analysts recently commented on the company. Zacks Investment Research cut GCP Applied Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Cowen and Company assumed coverage on GCP Applied Technologies in a research report on Monday, October 30th. They issued a “market perform” rating and a $31.00 price target on the stock. Finally, KeyCorp reaffirmed a “buy” rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.33.
Shares of GCP Applied Technologies Inc. (NYSE:GCP) remained flat at $$28.30 during mid-day trading on Friday. 339,200 shares of the stock traded hands, compared to its average volume of 466,374. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2,027.30, a price-to-earnings ratio of 41.62 and a beta of 0.88. GCP Applied Technologies Inc. has a 1 year low of $25.25 and a 1 year high of $34.22.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $282.40 million for the quarter, compared to analyst estimates of $279.05 million. GCP Applied Technologies had a return on equity of 124.93% and a net margin of 56.84%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. sell-side analysts forecast that GCP Applied Technologies Inc. will post 0.62 earnings per share for the current fiscal year.
In other GCP Applied Technologies news, Director Phillip J. Mason bought 3,000 shares of the stock in a transaction on Monday, November 6th. The stock was acquired at an average cost of $29.96 per share, for a total transaction of $89,880.00. Following the completion of the acquisition, the director now owns 7,428 shares in the company, valued at approximately $222,542.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.
GCP Applied Technologies Profile
GCP Applied Technologies Inc produces and sells specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through two segments: Specialty Construction Chemicals and Specialty Building Materials. The Specialty Construction Chemicals segment manufactures and markets products to manage performance of Portland cement, and materials based on Portland cement, such as concrete admixtures and cement additives, as well as concrete production management systems.
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