Dimensional Fund Advisors LP grew its holdings in shares of GCP Applied Technologies Inc. (NYSE:GCP) by 29.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 944,947 shares of the construction company’s stock after acquiring an additional 212,349 shares during the quarter. Dimensional Fund Advisors LP owned 1.32% of GCP Applied Technologies worth $28,820,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its stake in shares of GCP Applied Technologies by 53,633.5% in the first quarter. BlackRock Inc. now owns 4,539,941 shares of the construction company’s stock worth $148,228,000 after buying an additional 4,531,492 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of GCP Applied Technologies by 24.1% in the second quarter. Iridian Asset Management LLC CT now owns 4,086,040 shares of the construction company’s stock worth $124,624,000 after buying an additional 794,000 shares during the period. FMR LLC purchased a new position in shares of GCP Applied Technologies in the first quarter worth $17,187,000. First Eagle Investment Management LLC increased its position in GCP Applied Technologies by 36.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,273,811 shares of the construction company’s stock valued at $38,851,000 after purchasing an additional 341,168 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in GCP Applied Technologies by 1,766.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 341,571 shares of the construction company’s stock valued at $10,418,000 after purchasing an additional 323,271 shares during the period. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
GCP Applied Technologies (NYSE:GCP) last released its earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The business had revenue of $282.40 million for the quarter, compared to analyst estimates of $279.05 million. During the same quarter last year, the firm posted $0.21 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year.
A number of brokerages have issued reports on GCP. Cowen and Company began coverage on shares of GCP Applied Technologies in a research report on Monday. They set a “market perform” rating and a $31.00 price objective on the stock. Zacks Investment Research downgraded shares of GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. GCP Applied Technologies presently has an average rating of “Buy” and a consensus price target of $34.67.
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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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