Russell Investments Group Ltd. grew its position in GCP Applied Technologies Inc (NYSE:GCP) by 4.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,315 shares of the construction company’s stock after buying an additional 2,899 shares during the period. Russell Investments Group Ltd.’s holdings in GCP Applied Technologies were worth $1,804,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of GCP Applied Technologies by 246.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,631 shares of the construction company’s stock valued at $102,000 after buying an additional 2,583 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of GCP Applied Technologies in the 1st quarter valued at about $103,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of GCP Applied Technologies in the 1st quarter valued at about $171,000. Quantbot Technologies LP bought a new stake in shares of GCP Applied Technologies in the 1st quarter valued at about $196,000. Finally, Royal Bank of Canada boosted its holdings in shares of GCP Applied Technologies by 113.9% in the 1st quarter. Royal Bank of Canada now owns 7,188 shares of the construction company’s stock valued at $208,000 after buying an additional 3,827 shares in the last quarter. Institutional investors and hedge funds own 83.44% of the company’s stock.
In related news, major shareholder Dalbergia Investments Llc bought 84,298 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was bought at an average cost of $26.36 per share, for a total transaction of $2,222,095.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased a total of 1,749,715 shares of company stock valued at $43,988,483 over the last quarter. 1.10% of the stock is owned by company insiders.
GCP stock opened at $26.60 on Wednesday. The company has a market capitalization of $1.92 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.57 and a beta of 1.18. The company has a quick ratio of 1.82, a current ratio of 2.20 and a debt-to-equity ratio of 0.77. 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 released its earnings results on Tuesday, August 7th. The construction company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The company had revenue of $302.80 million during the quarter, compared to analyst estimates of $321.80 million. GCP Applied Technologies had a return on equity of 10.57% and a net margin of 48.05%. equities research analysts forecast that GCP Applied Technologies Inc will post 0.94 EPS for the current fiscal year.
A number of analysts recently commented on GCP shares. Seaport Global Securities reiterated a “buy” rating and issued a $31.00 target price on shares of GCP Applied Technologies in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, July 11th. Monness Crespi & Hardt cut shares of GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Wednesday, August 8th. Finally, KeyCorp lowered their target price on shares of GCP Applied Technologies from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.40.
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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