Cramer Rosenthal Mcglynn LLC lessened its position in shares of GCP Applied Technologies Inc. (NYSE:GCP) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,813,793 shares of the construction company’s stock after selling 66,935 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 2.53% of GCP Applied Technologies worth $55,683,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GCP. Janus Henderson Group PLC acquired a new stake in GCP Applied Technologies in the 2nd quarter valued at approximately $219,000. Stifel Financial Corp acquired a new stake in GCP Applied Technologies in the 3rd quarter valued at approximately $221,000. AHL Partners LLP acquired a new stake in GCP Applied Technologies in the 2nd quarter valued at approximately $258,000. Amalgamated Bank increased its holdings in GCP Applied Technologies by 3.4% in the 2nd quarter. Amalgamated Bank now owns 9,027 shares of the construction company’s stock valued at $275,000 after purchasing an additional 301 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in GCP Applied Technologies in the 2nd quarter valued at approximately $317,000. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on GCP. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, October 4th. TheStreet upgraded shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a report on Friday, November 24th. KeyCorp reiterated a “buy” rating and issued a $34.00 target price on shares of GCP Applied Technologies in a report on Friday, November 3rd. Finally, Cowen began coverage on shares of GCP Applied Technologies in a report on Monday, October 30th. They issued a “market perform” rating and a $31.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.33.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $282.40 million during the quarter, compared to the consensus estimate of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. research analysts expect that GCP Applied Technologies Inc. will post 0.63 earnings per share for the current fiscal year.
In other GCP Applied Technologies news, Director Phillip J. Mason purchased 3,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $29.96 per share, for a total transaction of $89,880.00. Following the completion of the purchase, the director now directly owns 7,428 shares in the company, valued at approximately $222,542.88. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.65% of the company’s stock.
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GCP Applied Technologies Profile
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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