GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of GCP Applied Technologies Inc (NYSE:GCP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,500 shares of the construction company’s stock, valued at approximately $226,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL lifted its holdings in GCP Applied Technologies by 60.1% during the third quarter. Gamco Investors INC. ET AL now owns 3,263,167 shares of the construction company’s stock valued at $86,637,000 after purchasing an additional 1,225,410 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in GCP Applied Technologies by 292.3% during the third quarter. Wells Fargo & Company MN now owns 419,542 shares of the construction company’s stock valued at $11,139,000 after purchasing an additional 312,606 shares in the last quarter. BlackRock Inc. lifted its holdings in GCP Applied Technologies by 5.6% during the second quarter. BlackRock Inc. now owns 5,028,459 shares of the construction company’s stock valued at $145,574,000 after purchasing an additional 266,360 shares in the last quarter. Engadine Partners LLP purchased a new position in GCP Applied Technologies during the second quarter valued at $7,179,000. Finally, MUFG Securities EMEA plc purchased a new position in GCP Applied Technologies during the second quarter valued at $4,053,000. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
In other GCP Applied Technologies news, major shareholder Dalbergia Investments Llc purchased 478,252 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were purchased at an average cost of $25.03 per share, with a total value of $11,970,647.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have acquired 2,717,663 shares of company stock worth $68,742,698. Insiders own 1.10% of the company’s stock.
GCP has been the topic of several recent analyst reports. Monness Crespi & Hardt downgraded shares of GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of GCP Applied Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Seaport Global Securities reaffirmed a “buy” rating and set a $31.00 price objective on shares of GCP Applied Technologies in a report on Thursday, August 16th. Finally, KeyCorp decreased their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $32.75.
GCP opened at $26.74 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 1.82 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 1.61 and a beta of 0.91. GCP Applied Technologies Inc has a 52-week low of $23.85 and a 52-week high of $34.79.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.12). The company had revenue of $302.80 million for the quarter, compared to analysts’ expectations of $321.80 million. GCP Applied Technologies had a net margin of 48.05% and a return on equity of 10.57%. On average, research analysts anticipate that GCP Applied Technologies Inc will post 0.93 earnings per share for the current fiscal year.
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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