Wells Fargo & Company MN Has $8.45 Million Stake in GCP Applied Technologies Inc (GCP)

Wells Fargo & Company MN increased its holdings in shares of GCP Applied Technologies Inc (NYSE:GCP) by 24.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,251 shares of the construction company’s stock after acquiring an additional 54,232 shares during the period. Wells Fargo & Company MN owned about 0.38% of GCP Applied Technologies worth $8,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in GCP Applied Technologies during the 2nd quarter worth approximately $219,000. AHL Partners LLP bought a new stake in GCP Applied Technologies during the 2nd quarter worth approximately $258,000. Amalgamated Bank grew its position in GCP Applied Technologies by 3.4% during the 2nd quarter. Amalgamated Bank now owns 9,027 shares of the construction company’s stock worth $275,000 after acquiring an additional 301 shares during the last quarter. SG Americas Securities LLC bought a new stake in GCP Applied Technologies during the 2nd quarter worth approximately $317,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in GCP Applied Technologies during the 2nd quarter worth approximately $365,000. Institutional investors and hedge funds own 83.98% of the company’s stock.

GCP Applied Technologies Inc (NYSE GCP) opened at $34.00 on Friday. The company has a market capitalization of $2,440.00 and a price-to-earnings ratio of -62.96. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.52 and a quick ratio of 2.28. GCP Applied Technologies Inc has a 12-month low of $25.35 and a 12-month high of $34.55.

GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The firm had revenue of $282.40 million for the quarter, compared to analyst estimates of $279.05 million. GCP Applied Technologies had a negative return on equity of 33.49% and a negative net margin of 6.37%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. equities research analysts predict that GCP Applied Technologies Inc will post 0.63 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on GCP shares. Zacks Investment Research upgraded GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. KeyCorp reiterated a “buy” rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research report on Friday, November 3rd. TheStreet upgraded GCP Applied Technologies from a “d+” rating to a “c” rating in a research report on Friday, November 24th. Finally, Cowen started coverage on GCP Applied Technologies in a research report on Monday, October 30th. They issued a “market perform” rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. GCP Applied Technologies presently has a consensus rating of “Buy” and a consensus target price of $34.33.

In other news, insider Gregory E. Poling sold 26,233 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $32.91, for a total value of $863,328.03. Following the transaction, the insider now owns 81,151 shares of the company’s stock, valued at approximately $2,670,679.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Phillip J. Mason purchased 3,000 shares of the business’s 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 purchase, the director now owns 7,428 shares in the company, valued at $222,542.88. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

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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.

Institutional Ownership by Quarter for GCP Applied Technologies (NYSE:GCP)

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