Polymer Capital Management US LLC Acquires New Holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Polymer Capital Management US LLC bought a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 14,471 shares of the construction company’s stock, valued at approximately $163,000.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Great Lakes Dredge & Dock by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 213,330 shares of the construction company’s stock worth $2,246,000 after buying an additional 13,203 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Great Lakes Dredge & Dock by 225.3% in the 3rd quarter. Verition Fund Management LLC now owns 60,127 shares of the construction company’s stock valued at $633,000 after acquiring an additional 41,645 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter valued at about $147,000. State Street Corp grew its holdings in shares of Great Lakes Dredge & Dock by 0.9% during the third quarter. State Street Corp now owns 1,540,516 shares of the construction company’s stock worth $16,222,000 after purchasing an additional 13,010 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Great Lakes Dredge & Dock by 338.9% in the third quarter. Barclays PLC now owns 106,642 shares of the construction company’s stock worth $1,123,000 after purchasing an additional 82,344 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Trading Down 0.9 %

Shares of Great Lakes Dredge & Dock stock opened at $8.04 on Wednesday. The company has a 50 day simple moving average of $9.19 and a two-hundred day simple moving average of $10.88. The firm has a market cap of $541.58 million, a PE ratio of 9.57, a PEG ratio of 1.06 and a beta of 1.17. Great Lakes Dredge & Dock Co. has a 1 year low of $6.55 and a 1 year high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The business had revenue of $202.77 million for the quarter, compared to the consensus estimate of $211.20 million. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.

Great Lakes Dredge & Dock declared that its board has initiated a stock repurchase program on Friday, March 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, SVP Christopher Gunsten purchased 3,875 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the transaction, the senior vice president now directly owns 61,532 shares in the company, valued at approximately $476,873. This represents a 6.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.