Tocqueville Asset Management L.P. raised its stake in GCP Applied Technologies Inc (NYSE:GCP) by 43.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 808,598 shares of the construction company’s stock after acquiring an additional 243,201 shares during the period. Tocqueville Asset Management L.P. owned about 1.13% of GCP Applied Technologies worth $25,794,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in GCP Applied Technologies by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 55,283 shares of the construction company’s stock valued at $1,686,000 after acquiring an additional 711 shares during the period. Bank of New York Mellon Corp grew its position in GCP Applied Technologies by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 353,393 shares of the construction company’s stock valued at $10,848,000 after acquiring an additional 1,947 shares during the period. Janus Henderson Group PLC grew its holdings in shares of GCP Applied Technologies by 33.2% during the third quarter. Janus Henderson Group PLC now owns 9,542 shares of the construction company’s stock worth $293,000 after purchasing an additional 2,377 shares during the last quarter. Swiss National Bank grew its holdings in shares of GCP Applied Technologies by 2.2% during the fourth quarter. Swiss National Bank now owns 121,900 shares of the construction company’s stock worth $3,889,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of GCP Applied Technologies by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 592,921 shares of the construction company’s stock worth $18,914,000 after purchasing an additional 2,702 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.
Several brokerages have recently commented on GCP. Zacks Investment Research upgraded GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. KeyCorp restated an “overweight” rating and set a $35.00 target price (down previously from $37.00) on shares of GCP Applied Technologies in a report on Wednesday, February 28th. Finally, TheStreet upgraded GCP Applied Technologies from a “d+” rating to a “c” rating in a report on Friday, November 24th.
In related news, insider Gregory E. Poling sold 26,233 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $32.91, for a total value of $863,328.03. Following the transaction, the insider now owns 81,151 shares in the company, valued at $2,670,679.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Danny R. Shepherd purchased 2,388 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $74,863.80. Following the acquisition, the director now owns 12,768 shares of the company’s stock, valued at $400,276.80. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.
Shares of GCP Applied Technologies Inc (NYSE GCP) traded down $0.65 during mid-day trading on Wednesday, hitting $31.15. The stock had a trading volume of 609,313 shares, compared to its average volume of 613,636. The company has a quick ratio of 2.09, a current ratio of 2.31 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $2,269.11, a PE ratio of 4.13, a PEG ratio of 1.89 and a beta of 1.22. GCP Applied Technologies Inc has a 12 month low of $27.25 and a 12 month high of $34.79.
GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Tuesday, February 27th. The construction company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $289.50 million for the quarter, compared to analysts’ expectations of $292.85 million. GCP Applied Technologies had a return on equity of 23.54% and a net margin of 51.03%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. equities research analysts forecast that GCP Applied Technologies Inc will post 0.93 earnings per share for the current year.
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GCP Applied Technologies Company 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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