JPMorgan Chase & Co. lifted its holdings in GCP Applied Technologies Inc. (NYSE:GCP) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,861,251 shares of the construction company’s stock after acquiring an additional 112,941 shares during the period. JPMorgan Chase & Co. owned 4.00% of GCP Applied Technologies worth $87,269,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GCP. Strs Ohio boosted its stake in shares of GCP Applied Technologies by 450.0% in the first quarter. Strs Ohio now owns 4,400 shares of the construction company’s stock worth $143,000 after acquiring an additional 3,600 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of GCP Applied Technologies in the first quarter worth about $200,000. Teza Capital Management LLC bought a new position in shares of GCP Applied Technologies in the first quarter worth about $212,000. Paloma Partners Management Co bought a new position in shares of GCP Applied Technologies in the first quarter worth about $213,000. Finally, Pinnacle Associates Ltd. boosted its stake in shares of GCP Applied Technologies by 6.4% in the first quarter. Pinnacle Associates Ltd. now owns 8,302 shares of the construction company’s stock worth $271,000 after acquiring an additional 500 shares during the period. 82.26% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. KeyCorp raised GCP Applied Technologies from a “sector weight” rating to an “overweight” rating and set a $36.00 price objective for the company in a research note on Thursday, June 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. GCP Applied Technologies presently has a consensus rating of “Buy” and an average target price of $35.50.
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GCP Applied Technologies Inc. (NYSE:GCP) opened at 28.75 on Friday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 653.41 and a beta of 0.94. The stock has a 50 day moving average price of $29.29 and a 200-day moving average price of $30.84. GCP Applied Technologies Inc. has a 1-year low of $25.10 and a 1-year high of $34.22.
GCP Applied Technologies (NYSE:GCP) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $309.70 million. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that GCP Applied Technologies Inc. will post $0.78 EPS for the current 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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