Luminus Management LLC reduced its position in shares of GCP Applied Technologies Inc (NYSE:GCP) by 87.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,946 shares of the construction company’s stock after selling 101,205 shares during the period. Luminus Management LLC’s holdings in GCP Applied Technologies were worth $477,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Engadine Partners LLP bought a new stake in shares of GCP Applied Technologies during the 4th quarter worth $17,654,000. Wells Fargo & Company MN boosted its holdings in shares of GCP Applied Technologies by 24.5% during the 3rd quarter. Wells Fargo & Company MN now owns 275,251 shares of the construction company’s stock worth $8,450,000 after buying an additional 54,232 shares during the period. Bamco Inc. NY bought a new stake in shares of GCP Applied Technologies during the 3rd quarter worth $33,770,000. Legal & General Group Plc boosted its holdings in shares of GCP Applied Technologies by 13.8% during the 3rd quarter. Legal & General Group Plc now owns 29,021 shares of the construction company’s stock worth $890,000 after buying an additional 3,528 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GCP Applied Technologies by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,968,808 shares of the construction company’s stock worth $90,548,000 after buying an additional 107,557 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.
Shares of GCP Applied Technologies Inc (GCP) opened at $31.80 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.31 and a debt-to-equity ratio of 1.06. GCP Applied Technologies Inc has a 1-year low of $27.25 and a 1-year high of $34.79. The firm has a market cap of $2,269.11, a price-to-earnings ratio of 50.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.22.
GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GCP Applied Technologies had a net margin of 51.03% and a return on equity of 23.54%. The firm had revenue of $289.50 million during the quarter, compared to the consensus estimate of $292.85 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 10.7% on a year-over-year basis. equities research analysts predict that GCP Applied Technologies Inc will post 0.93 earnings per share for the current year.
In other GCP Applied Technologies news, VP Kenneth S. Korotkin sold 6,889 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $31.43, for a total value of $216,521.27. Following the completion of the sale, the vice president now directly owns 4,712 shares of the company’s stock, valued at approximately $148,098.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Danny R. Shepherd purchased 2,388 shares of GCP Applied Technologies stock in a transaction on Monday, March 12th. The stock was bought at an average cost of $31.35 per share, with a total value of $74,863.80. Following the completion of the acquisition, the director now owns 12,768 shares in the company, valued at $400,276.80. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.
Several research firms recently issued reports on GCP. Zacks Investment Research downgraded shares of GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 1st. TheStreet raised shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a report on Friday, November 24th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $35.00 price objective (down from $37.00) on shares of GCP Applied Technologies in a report on Wednesday, February 28th.
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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.
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