GCP Applied Technologies Inc (NYSE:GCP) Sees Large Increase in Short Interest

GCP Applied Technologies Inc (NYSE:GCP) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,390,000 shares, an increase of 8.0% from the December 15th total of 3,140,000 shares. Based on an average daily volume of 313,300 shares, the short-interest ratio is currently 10.8 days. Approximately 5.7% of the company’s stock are sold short.

Shares of GCP stock traded down $0.28 on Thursday, hitting $23.93. The stock had a trading volume of 18,945 shares, compared to its average volume of 272,776. The business has a 50 day moving average of $22.61 and a 200 day moving average of $21.03. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.80 and a quick ratio of 2.33. GCP Applied Technologies has a 12-month low of $16.51 and a 12-month high of $31.74.

GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Wednesday, November 6th. The construction company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $266.90 million during the quarter, compared to the consensus estimate of $270.05 million. GCP Applied Technologies had a net margin of 6.29% and a return on equity of 12.00%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, research analysts expect that GCP Applied Technologies will post 0.79 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, January 8th. ValuEngine upgraded shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

A number of institutional investors and hedge funds have recently bought and sold shares of GCP. Starboard Value LP boosted its position in GCP Applied Technologies by 67.4% during the second quarter. Starboard Value LP now owns 5,322,694 shares of the construction company’s stock worth $120,506,000 after purchasing an additional 2,142,694 shares during the period. Nuveen Asset Management LLC boosted its position in shares of GCP Applied Technologies by 2,475.8% in the second quarter. Nuveen Asset Management LLC now owns 1,077,629 shares of the construction company’s stock valued at $23,344,000 after acquiring an additional 1,035,792 shares during the period. Indaba Capital Management L.P. bought a new position in shares of GCP Applied Technologies in the second quarter valued at approximately $13,975,000. State Street Corp boosted its position in shares of GCP Applied Technologies by 39.1% in the third quarter. State Street Corp now owns 1,849,263 shares of the construction company’s stock valued at $35,598,000 after acquiring an additional 520,107 shares during the period. Finally, Citadel Advisors LLC boosted its position in shares of GCP Applied Technologies by 99.1% in the second quarter. Citadel Advisors LLC now owns 673,682 shares of the construction company’s stock valued at $15,251,000 after acquiring an additional 335,341 shares during the period. Institutional investors own 74.85% of the company’s stock.

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 and engineered systems 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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