GCP Applied Technologies Inc. (GCP) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its holdings in shares of GCP Applied Technologies Inc. (NYSE:GCP) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 331,914 shares of the construction company’s stock after acquiring an additional 39,192 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.46% of GCP Applied Technologies worth $10,124,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio grew its position in GCP Applied Technologies by 450.0% in the 1st quarter. Strs Ohio now owns 4,400 shares of the construction company’s stock valued at $143,000 after acquiring an additional 3,600 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in GCP Applied Technologies in the first quarter worth $200,000. Paloma Partners Management Co purchased a new stake in GCP Applied Technologies in the first quarter worth $213,000. Highbridge Capital Management LLC lifted its position in shares of GCP Applied Technologies by 11.0% during the first quarter. Highbridge Capital Management LLC now owns 10,510 shares of the construction company’s stock worth $344,000 after purchasing an additional 1,043 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of GCP Applied Technologies by 4.0% during the first quarter. KBC Group NV now owns 12,064 shares of the construction company’s stock worth $394,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 82.21% of the company’s stock.
A number of equities analysts have recently commented on GCP shares. Zacks Investment Research lowered shares of GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. KeyCorp raised shares of GCP Applied Technologies from a “sector weight” rating to an “overweight” rating and set a $36.00 price target for the company in a research note on Thursday, June 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.50.
Shares of GCP Applied Technologies Inc. (NYSE GCP) opened at 30.70 on Monday. GCP Applied Technologies Inc. has a one year low of $25.10 and a one year high of $33.70. The firm has a 50 day moving average price of $29.89 and a 200 day moving average price of $29.89. The stock has a market capitalization of $2.20 billion, a PE ratio of 697.73 and a beta of 0.97.
GCP Applied Technologies (NYSE:GCP) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The company had revenue of $287.20 million during the quarter, compared to analyst estimates of $309.70 million. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The company’s revenue was up 1.1% on a year-over-year basis. Analysts predict that GCP Applied Technologies Inc. will post $0.78 earnings per share for the current fiscal year.
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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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