Ameritas Investment Partners Inc. continued to hold its position in GCP Applied Technologies Inc. (NYSE:GCP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,126 shares of the construction company’s stock at the close of the second quarter. Ameritas Investment Partners Inc.’s holdings in GCP Applied Technologies were worth $187,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in GCP Applied Technologies by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,859,400 shares of the construction company’s stock valued at $191,310,000 after purchasing an additional 273,798 shares during the last quarter. BlackRock Inc. lifted its position in GCP Applied Technologies by 53,633.5% during the first quarter. BlackRock Inc. now owns 4,539,941 shares of the construction company’s stock valued at $148,228,000 after purchasing an additional 4,531,492 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in GCP Applied Technologies by 24.1% during the second quarter. Iridian Asset Management LLC CT now owns 4,086,040 shares of the construction company’s stock valued at $124,624,000 after purchasing an additional 794,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in GCP Applied Technologies by 4.1% during the second quarter. JPMorgan Chase & Co. now owns 2,861,251 shares of the construction company’s stock valued at $87,269,000 after purchasing an additional 112,941 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in GCP Applied Technologies by 57.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,880,728 shares of the construction company’s stock valued at $57,362,000 after purchasing an additional 687,513 shares during the last quarter. Institutional investors own 81.28% of the company’s stock.
GCP has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, October 4th. Cowen and Company initiated coverage on shares of GCP Applied Technologies in a research report on Monday. They set a “market perform” rating and a $31.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.67.
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GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The business had revenue of $287.20 million during the quarter, compared to the consensus estimate of $309.70 million. The business’s revenue for the quarter was up 1.1% on a year-over-year basis.
About GCP Applied Technologies
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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