GCP Applied Technologies Inc (NYSE:GCP) – Equities research analysts at Seaport Global Securities decreased their Q3 2018 earnings estimates for shares of GCP Applied Technologies in a research note issued on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now forecasts that the construction company will post earnings per share of $0.32 for the quarter, down from their prior forecast of $0.34. Seaport Global Securities has a “Buy” rating and a $31.00 price objective on the stock. Seaport Global Securities also issued estimates for GCP Applied Technologies’ Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $0.90 EPS, Q1 2019 earnings at $0.12 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.21 EPS.
GCP has been the topic of several other research reports. Zacks Investment Research downgraded GCP Applied Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. KeyCorp dropped their price target on GCP Applied Technologies from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, August 9th. Finally, Monness Crespi & Hardt downgraded GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $32.40.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.12). GCP Applied Technologies had a net margin of 48.05% and a return on equity of 10.57%. The firm had revenue of $302.80 million during the quarter, compared to analyst estimates of $321.80 million.
In related news, major shareholder Dalbergia Investments Llc bought 28,400 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were acquired at an average price of $25.38 per share, with a total value of $720,792.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 2,717,663 shares of company stock worth $68,742,698. 0.65% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its stake in shares of GCP Applied Technologies by 36.5% in the second quarter. Gamco Investors INC. ET AL now owns 2,037,757 shares of the construction company’s stock worth $58,993,000 after purchasing an additional 544,652 shares in the last quarter. Millennium Management LLC increased its position in GCP Applied Technologies by 57.0% during the 1st quarter. Millennium Management LLC now owns 1,117,691 shares of the construction company’s stock worth $32,469,000 after purchasing an additional 405,854 shares in the last quarter. BlackRock Inc. increased its position in GCP Applied Technologies by 5.6% during the 2nd quarter. BlackRock Inc. now owns 5,028,459 shares of the construction company’s stock worth $145,574,000 after purchasing an additional 266,360 shares in the last quarter. Engadine Partners LLP purchased a new stake in GCP Applied Technologies during the 2nd quarter worth about $7,179,000. Finally, MUFG Securities EMEA plc purchased a new stake in GCP Applied Technologies during the 2nd quarter worth about $4,053,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.
GCP Applied Technologies Company 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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