GCP Applied Technologies (NYSE:GCP) posted its earnings results on Tuesday. The construction company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02, MarketWatch Earnings reports. GCP Applied Technologies had a net margin of 48.05% and a return on equity of 10.57%. The business had revenue of $296.30 million for the quarter, compared to analyst estimates of $299.50 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. GCP Applied Technologies updated its FY18 guidance to $0.86-1.00 EPS.
Shares of GCP traded up $0.98 during trading hours on Wednesday, hitting $28.65. The stock had a trading volume of 9,274 shares, compared to its average volume of 681,159. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.82 and a current ratio of 2.20. GCP Applied Technologies has a 52 week low of $23.85 and a 52 week high of $34.79. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 1.61 and a beta of 0.91.
GCP has been the topic of several analyst reports. Zacks Investment Research lowered shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Monness Crespi & Hardt lowered shares of GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Wednesday, August 8th. KeyCorp lowered their target price on shares of GCP Applied Technologies from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $31.00 target price on shares of GCP Applied Technologies in a report on Thursday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. GCP Applied Technologies presently has an average rating of “Hold” and an average price target of $32.75.
In other news, major shareholder Dalbergia Investments Llc bought 28,400 shares of the stock in a transaction dated Monday, October 15th. The shares were acquired at an average price of $25.38 per share, with a total value of $720,792.00. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 2,717,663 shares of company stock worth $68,742,698. 1.10% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of GCP. Royal Bank of Canada grew its holdings in GCP Applied Technologies by 113.9% during the 1st quarter. Royal Bank of Canada now owns 7,188 shares of the construction company’s stock worth $208,000 after acquiring an additional 3,827 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in GCP Applied Technologies by 23.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,060 shares of the construction company’s stock worth $292,000 after acquiring an additional 1,900 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in GCP Applied Technologies during the 2nd quarter worth about $475,000. Reinhart Partners Inc. grew its holdings in GCP Applied Technologies by 8.9% during the 2nd quarter. Reinhart Partners Inc. now owns 48,630 shares of the construction company’s stock worth $1,408,000 after acquiring an additional 3,970 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in GCP Applied Technologies during the 2nd quarter worth about $839,000. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
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GCP Applied Technologies Company 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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