UBS Oconnor LLC Takes Position in GCP Applied Technologies Inc. (GCP)
UBS Oconnor LLC bought a new position in shares of GCP Applied Technologies Inc. (NYSE:GCP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 90,000 shares of the construction company’s stock, valued at approximately $2,745,000. UBS Oconnor LLC owned about 0.13% of GCP Applied Technologies as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of GCP. Cipher Capital LP boosted its holdings in shares of GCP Applied Technologies by 15.7% during the 2nd quarter. Cipher Capital LP now owns 74,255 shares of the construction company’s stock worth $2,265,000 after buying an additional 10,070 shares during the period. State Street Corp raised its holdings in GCP Applied Technologies by 1.6% in the 1st quarter. State Street Corp now owns 1,329,112 shares of the construction company’s stock valued at $43,397,000 after acquiring an additional 20,927 shares during the period. Rhumbline Advisers raised its holdings in GCP Applied Technologies by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 89,614 shares of the construction company’s stock valued at $2,733,000 after acquiring an additional 5,205 shares during the period. Parametric Portfolio Associates LLC raised its holdings in GCP Applied Technologies by 53.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 93,297 shares of the construction company’s stock valued at $3,046,000 after acquiring an additional 32,621 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in GCP Applied Technologies by 65.3% in the 1st quarter. Russell Investments Group Ltd. now owns 65,621 shares of the construction company’s stock valued at $2,143,000 after acquiring an additional 25,931 shares during the period. Institutional investors own 82.21% of the company’s stock.
Shares of GCP Applied Technologies Inc. (NYSE:GCP) traded up 1.14% on Monday, hitting $31.05. 35,987 shares of the stock traded hands. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 705.68 and a beta of 0.97. The stock has a 50 day moving average price of $29.89 and a 200-day moving average price of $29.89. GCP Applied Technologies Inc. has a 52 week low of $25.10 and a 52 week high of $33.70.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The business had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $309.70 million. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that GCP Applied Technologies Inc. will post $0.78 EPS for the current year.
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GCP has been the topic of several research reports. Zacks Investment Research downgraded GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. KeyCorp upgraded 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. GCP Applied Technologies currently has an average rating of “Buy” and an average target price of $35.50.
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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