Pinnacle Associates Ltd. purchased a new position in shares of GCP Applied Technologies Inc (NYSE:GCP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,802 shares of the construction company’s stock, valued at approximately $231,000.
A number of other institutional investors and hedge funds have also made changes to their positions in GCP. BlackRock Inc. lifted its position in shares of GCP Applied Technologies by 0.7% during the fourth quarter. BlackRock Inc. now owns 4,938,092 shares of the construction company’s stock worth $121,229,000 after purchasing an additional 32,775 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in GCP Applied Technologies by 11.2% in the first quarter. Gamco Investors INC. ET AL now owns 3,391,794 shares of the construction company’s stock valued at $100,397,000 after acquiring an additional 341,030 shares during the period. Dimensional Fund Advisors LP lifted its holdings in GCP Applied Technologies by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,621,076 shares of the construction company’s stock valued at $39,798,000 after acquiring an additional 136,696 shares during the period. Geode Capital Management LLC lifted its holdings in GCP Applied Technologies by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 754,634 shares of the construction company’s stock valued at $18,526,000 after acquiring an additional 37,474 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its holdings in GCP Applied Technologies by 4.1% in the first quarter. Tocqueville Asset Management L.P. now owns 497,023 shares of the construction company’s stock valued at $14,712,000 after acquiring an additional 19,360 shares during the period. Hedge funds and other institutional investors own 69.88% of the company’s stock.
GCP has been the subject of a number of analyst reports. Zacks Investment Research downgraded GCP Applied Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. ValuEngine cut GCP Applied Technologies from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.75.
GCP Applied Technologies (NYSE:GCP) last released its earnings results on Wednesday, May 8th. The construction company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The business had revenue of $226.10 million during the quarter, compared to analysts’ expectations of $241.63 million. GCP Applied Technologies had a return on equity of 14.66% and a net margin of 3.92%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, analysts predict that GCP Applied Technologies Inc will post 1.07 EPS for the current fiscal year.
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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