Cubist Systematic Strategies LLC increased its holdings in shares of GCP Applied Technologies Inc (NYSE:GCP) by 211.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,163 shares of the construction company’s stock after purchasing an additional 4,863 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in GCP Applied Technologies were worth $220,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in GCP Applied Technologies by 40.5% during the third quarter. Victory Capital Management Inc. now owns 1,938,292 shares of the construction company’s stock worth $59,506,000 after purchasing an additional 558,305 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in GCP Applied Technologies by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 2,968,808 shares of the construction company’s stock worth $90,548,000 after purchasing an additional 107,557 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in GCP Applied Technologies during the third quarter worth approximately $494,000. AHL Partners LLP purchased a new stake in GCP Applied Technologies during the second quarter worth approximately $258,000. Finally, Wells Fargo & Company MN lifted its stake in GCP Applied Technologies by 31.3% during the second quarter. Wells Fargo & Company MN now owns 221,019 shares of the construction company’s stock worth $6,741,000 after purchasing an additional 52,640 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.
Several equities research analysts recently weighed in on GCP shares. KeyCorp restated a “buy” rating and set a $34.00 target price on shares of GCP Applied Technologies in a research note on Friday, November 3rd. Zacks Investment Research upgraded GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, October 4th. TheStreet upgraded GCP Applied Technologies from a “d+” rating to a “c” rating in a research note on Friday, November 24th. Finally, Cowen initiated coverage on GCP Applied Technologies in a research note on Monday, October 30th. They issued a “market perform” rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.33.
GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. GCP Applied Technologies had a return on equity of 124.93% and a net margin of 56.84%. The company had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $279.05 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. equities research analysts expect that GCP Applied Technologies Inc will post 0.63 EPS for the current year.
In other news, Director Phillip J. Mason acquired 3,000 shares of GCP Applied Technologies stock in a transaction on Monday, November 6th. The stock was bought at an average price of $29.96 per share, for a total transaction of $89,880.00. Following the completion of the purchase, the director now owns 7,428 shares in the company, valued at $222,542.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory E. Poling sold 26,233 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $32.91, for a total value of $863,328.03. Following the completion of the sale, the insider now owns 81,151 shares of the company’s stock, valued at approximately $2,670,679.41. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
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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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