Credit Suisse AG boosted its stake in GCP Applied Technologies Inc (NYSE:GCP) by 980.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 808,691 shares of the construction company’s stock after purchasing an additional 733,865 shares during the period. Credit Suisse AG owned approximately 1.12% of GCP Applied Technologies worth $21,471,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. First Republic Investment Management Inc. bought a new stake in shares of GCP Applied Technologies during the 2nd quarter valued at $206,000. Royal Bank of Canada grew its position in shares of GCP Applied Technologies by 113.9% during the 1st quarter. Royal Bank of Canada now owns 7,188 shares of the construction company’s stock valued at $208,000 after acquiring an additional 3,827 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of GCP Applied Technologies during the 3rd quarter valued at $226,000. Brown Advisory Inc. grew its position in shares of GCP Applied Technologies by 33.4% during the 2nd quarter. Brown Advisory Inc. now owns 10,395 shares of the construction company’s stock valued at $301,000 after acquiring an additional 2,600 shares during the period. Finally, BlueMountain Capital Management LLC grew its position in shares of GCP Applied Technologies by 415.8% during the 2nd quarter. BlueMountain Capital Management LLC now owns 12,313 shares of the construction company’s stock valued at $356,000 after acquiring an additional 9,926 shares during the period. 84.60% of the stock is owned by institutional investors and hedge funds.
GCP opened at $27.30 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.92 and a current ratio of 2.31. GCP Applied Technologies Inc has a fifty-two week low of $23.85 and a fifty-two week high of $34.79. The firm has a market cap of $1.97 billion, a P/E ratio of 42.66, a PEG ratio of 1.68 and a beta of 0.91.
GCP Applied Technologies (NYSE:GCP) last released its earnings results on Tuesday, November 6th. The construction company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. GCP Applied Technologies had a negative net margin of 8.19% and a positive return on equity of 12.89%. The company had revenue of $296.30 million for the quarter, compared to analysts’ expectations of $299.50 million. During the same quarter in the previous year, the company earned $0.22 EPS. GCP Applied Technologies’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that GCP Applied Technologies Inc will post 0.9 earnings per share for the current year.
In other news, major shareholder Dalbergia Investments Llc bought 84,298 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were bought at an average price of $26.36 per share, for a total transaction of $2,222,095.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have purchased 1,908,163 shares of company stock worth $48,424,248. 0.65% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on GCP shares. Monness Crespi & Hardt downgraded shares of GCP Applied Technologies from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Wednesday, August 8th. Seaport Global Securities reissued a “buy” rating and set a $31.00 price objective on shares of GCP Applied Technologies in a research report on Thursday, August 16th. KeyCorp cut their price objective on shares of GCP Applied Technologies from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, August 9th. Finally, Zacks Investment Research downgraded shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.75.
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About GCP Applied Technologies
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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