Canada Pension Plan Investment Board reduced its position in GCP Applied Technologies Inc. (NYSE:GCP) by 34.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,100 shares of the construction company’s stock after selling 67,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.18% of GCP Applied Technologies worth $3,871,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Amalgamated Bank raised its stake in GCP Applied Technologies by 3.4% during the second quarter. Amalgamated Bank now owns 9,027 shares of the construction company’s stock worth $275,000 after acquiring an additional 301 shares in the last quarter. Legal & General Group Plc raised its stake in GCP Applied Technologies by 1.2% during the second quarter. Legal & General Group Plc now owns 25,493 shares of the construction company’s stock worth $776,000 after acquiring an additional 309 shares in the last quarter. Suntrust Banks Inc. raised its stake in GCP Applied Technologies by 0.3% during the second quarter. Suntrust Banks Inc. now owns 160,086 shares of the construction company’s stock worth $4,882,000 after acquiring an additional 441 shares in the last quarter. Symphony Asset Management LLC raised its stake in GCP Applied Technologies by 4.1% during the second quarter. Symphony Asset Management LLC now owns 17,770 shares of the construction company’s stock worth $542,000 after acquiring an additional 698 shares in the last quarter. Finally, Aperio Group LLC raised its stake in GCP Applied Technologies by 2.3% during the second quarter. Aperio Group LLC now owns 31,311 shares of the construction company’s stock worth $955,000 after acquiring an additional 709 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
GCP has been the subject of several recent analyst reports. Zacks Investment Research lowered GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Cowen and Company initiated coverage on GCP Applied Technologies in a research note on Monday, October 30th. They issued a “market perform” rating and a $31.00 target price for the company. Finally, KeyCorp restated a “buy” rating and issued a $34.00 target price on shares of GCP Applied Technologies in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.33.
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In other GCP Applied Technologies news, Director Phillip J. Mason bought 3,000 shares of the stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $29.96 per share, for a total transaction of $89,880.00. Following the completion of the purchase, the director now owns 7,428 shares in the company, valued at approximately $222,542.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.
Shares of GCP Applied Technologies Inc. (NYSE GCP) opened at $29.10 on Thursday. GCP Applied Technologies Inc. has a 12 month low of $25.25 and a 12 month high of $34.22. The firm has a market capitalization of $2,059.54, a price-to-earnings ratio of 42.28 and a beta of 0.88. The company has a quick ratio of 2.28, a current ratio of 2.52 and a debt-to-equity ratio of 0.91.
GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. GCP Applied Technologies had a return on equity of 124.93% and a net margin of 56.84%. The company had revenue of $282.40 million during the quarter, compared to analyst estimates of $279.05 million. During the same period last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. sell-side analysts predict that GCP Applied Technologies Inc. will post 0.62 EPS for the current year.
GCP Applied Technologies Company 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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