GCP Applied Technologies Inc. (GCP) Stake Lessened by Chesapeake Asset Management LLC
Chesapeake Asset Management LLC lowered its stake in shares of GCP Applied Technologies Inc. (NYSE:GCP) by 31.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,056 shares of the construction company’s stock after selling 19,639 shares during the quarter. Chesapeake Asset Management LLC owned about 0.06% of GCP Applied Technologies worth $1,322,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new position in GCP Applied Technologies in the 1st quarter worth approximately $213,000. Janus Henderson Group PLC acquired a new position in GCP Applied Technologies in the 2nd quarter worth approximately $219,000. AHL Partners LLP acquired a new position in GCP Applied Technologies in the 2nd quarter worth 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 worth $275,000 after buying an additional 301 shares during the period. Finally, SG Americas Securities LLC acquired a new position in GCP Applied Technologies in the 2nd quarter worth approximately $317,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
GCP Applied Technologies Inc. (NYSE GCP) remained flat at $$28.30 during trading on Monday. The company had a trading volume of 339,200 shares, compared to its average volume of 466,374. GCP Applied Technologies Inc. has a one year low of $25.25 and a one year high of $34.22. The firm has a market cap of $2,027.30, a PE ratio of 41.62 and a beta of 0.88. The company has a current ratio of 2.52, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91.
GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. GCP Applied Technologies had a return on equity of 124.93% and a net margin of 56.84%. The firm had revenue of $282.40 million for the quarter, compared to analyst estimates of $279.05 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue was up 7.2% on a year-over-year basis. equities analysts expect that GCP Applied Technologies Inc. will post 0.62 earnings per share for the current year.
In other GCP Applied Technologies news, Director Phillip J. Mason bought 3,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $29.96 per share, for a total transaction of $89,880.00. Following the transaction, the director now directly owns 7,428 shares of the company’s stock, valued at approximately $222,542.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.
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Several brokerages recently weighed in on GCP. Zacks Investment Research downgraded shares of GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Cowen and Company began coverage on GCP Applied Technologies in a research report on Monday, October 30th. They issued a “market perform” rating and a $31.00 price objective on the stock. Finally, KeyCorp restated a “buy” rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. GCP Applied Technologies has an average rating of “Buy” and an average target price of $34.33.
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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