Verition Fund Management LLC purchased a new stake in shares of GCP Applied Technologies Inc (NYSE:GCP) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,912 shares of the construction company’s stock, valued at approximately $433,000.
Several other hedge funds have also recently added to or reduced their stakes in GCP. Envestnet Asset Management Inc. raised its position in shares of GCP Applied Technologies by 246.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,631 shares of the construction company’s stock valued at $102,000 after purchasing an additional 2,583 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of GCP Applied Technologies in the 1st quarter valued at approximately $171,000. Quantbot Technologies LP purchased a new position in shares of GCP Applied Technologies in the 1st quarter valued at approximately $196,000. SG Americas Securities LLC purchased a new position in shares of GCP Applied Technologies in the 1st quarter valued at approximately $257,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of GCP Applied Technologies in the 4th quarter valued at approximately $260,000. 83.49% of the stock is owned by institutional investors and hedge funds.
Shares of GCP Applied Technologies stock opened at $28.50 on Tuesday. The company has a market capitalization of $2.08 billion, a P/E ratio of 44.53, a P/E/G ratio of 1.52 and a beta of 1.39. The company has a quick ratio of 2.38, a current ratio of 2.71 and a debt-to-equity ratio of 1.03. GCP Applied Technologies Inc has a 52 week low of $27.25 and a 52 week high of $34.79.
GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings results on Tuesday, May 8th. The construction company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). GCP Applied Technologies had a return on equity of 14.19% and a net margin of 50.82%. The business had revenue of $250.20 million during the quarter, compared to analyst estimates of $249.95 million. During the same quarter last year, the company posted ($0.06) EPS. GCP Applied Technologies’s quarterly revenue was up 11.1% compared to the same quarter last year. analysts expect that GCP Applied Technologies Inc will post 1.05 EPS for the current fiscal year.
Several equities analysts recently commented on GCP shares. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. ValuEngine raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $35.00 price objective (down from $37.00) on shares of GCP Applied Technologies in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.67.
GCP Applied Technologies Profile
GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management system under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.
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