GCP Applied Technologies (NYSE:GCP) Upgraded by Zacks Investment Research to “Hold”

GCP Applied Technologies (NYSE:GCP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, January 24th.

According to Zacks, “GCP Applied Technologies Inc. offer specialty construction chemicals and building materials as well as packaging technologies. GCP Applied Technologies Inc. is headquatered Cambridge, Massachusetts. “

A number of other equities research analysts have also recently issued reports on GCP. Cowen assumed coverage on shares of GCP Applied Technologies in a report on Monday, October 30th. They set a “market perform” rating and a $31.00 price target for the company. TheStreet upgraded shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a report on Friday, November 24th. Finally, KeyCorp restated a “buy” rating and set a $34.00 price target on shares of GCP Applied Technologies in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. GCP Applied Technologies has an average rating of “Hold” and a consensus target price of $34.80.

Shares of GCP Applied Technologies (NYSE GCP) traded up $1.15 during trading hours on Wednesday, reaching $33.50. 627,900 shares of the company were exchanged, compared to its average volume of 462,567. The company has a market capitalization of $2,399.81, a PE ratio of 49.26 and a beta of 0.96. GCP Applied Technologies has a 12-month low of $25.95 and a 12-month high of $34.79. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.52 and a quick ratio of 2.28.

In other GCP Applied Technologies news, insider Gregory E. Poling sold 26,233 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $32.91, for a total transaction of $863,328.03. Following the completion of the sale, the insider now directly owns 81,151 shares in the company, valued at $2,670,679.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new stake in shares of GCP Applied Technologies in the fourth quarter valued at about $1,100,000. Gotham Asset Management LLC bought a new stake in shares of GCP Applied Technologies in the fourth quarter valued at about $1,804,000. Crestline Management LP bought a new stake in shares of GCP Applied Technologies in the fourth quarter valued at about $952,000. Millennium Management LLC lifted its stake in shares of GCP Applied Technologies by 122.6% in the fourth quarter. Millennium Management LLC now owns 711,837 shares of the construction company’s stock valued at $22,708,000 after buying an additional 392,104 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its stake in shares of GCP Applied Technologies by 8.6% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,970,240 shares of the construction company’s stock valued at $62,851,000 after buying an additional 156,447 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

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About GCP Applied Technologies

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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