King Luther Capital Management Corp maintained its position in GCP Applied Technologies Inc. (NYSE:GCP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,400 shares of the construction company’s stock at the end of the second quarter. King Luther Capital Management Corp owned approximately 0.05% of GCP Applied Technologies worth $1,171,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in GCP Applied Technologies by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,859,400 shares of the construction company’s stock valued at $191,310,000 after buying an additional 273,798 shares during the last quarter. BlackRock Inc. increased its stake 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 worth $148,228,000 after purchasing an additional 4,531,492 shares during the period. Iridian Asset Management LLC CT increased its stake 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 worth $124,624,000 after purchasing an additional 794,000 shares during the period. JPMorgan Chase & Co. increased its stake 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 worth $87,269,000 after purchasing an additional 112,941 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in GCP Applied Technologies during the first quarter worth about $54,104,000. 82.21% of the stock is currently owned by institutional investors.
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A number of analysts have issued reports on GCP shares. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. KeyCorp upgraded shares of GCP Applied Technologies from a “sector weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a research note on Thursday, June 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $35.50.
Shares of GCP Applied Technologies Inc. (NYSE GCP) opened at 30.20 on Tuesday. GCP Applied Technologies Inc. has a 52 week low of $25.10 and a 52 week high of $33.70. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 686.36 and a beta of 0.94. The firm’s 50-day moving average is $29.78 and its 200-day moving average is $30.24.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $309.70 million. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that GCP Applied Technologies Inc. will post $0.78 EPS for the current fiscal year.
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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