B. Riley Financial Inc. Invests $908,000 in GCP Applied Technologies Inc. (GCP) Stock
B. Riley Financial Inc. purchased a new stake in shares of GCP Applied Technologies Inc. (NYSE:GCP) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,585 shares of the construction company’s stock, valued at approximately $908,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Iridian Asset Management LLC CT raised its holdings in GCP Applied Technologies by 24.1% in the second quarter. Iridian Asset Management LLC CT now owns 4,086,040 shares of the construction company’s stock worth $124,624,000 after buying an additional 794,000 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its position in GCP Applied Technologies by 57.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,880,728 shares of the construction company’s stock valued at $57,362,000 after buying an additional 687,513 shares during the period. York Capital Management Global Advisors LLC grew its position in GCP Applied Technologies by 79.2% during the second quarter. York Capital Management Global Advisors LLC now owns 1,388,234 shares of the construction company’s stock valued at $42,341,000 after buying an additional 613,751 shares during the period. Victory Capital Management Inc. grew its position in GCP Applied Technologies by 40.5% during the third quarter. Victory Capital Management Inc. now owns 1,938,292 shares of the construction company’s stock valued at $59,506,000 after buying an additional 558,305 shares during the period. Finally, First Eagle Investment Management LLC grew its position in GCP Applied Technologies by 36.6% during the second quarter. First Eagle Investment Management LLC now owns 1,273,811 shares of the construction company’s stock valued at $38,851,000 after buying an additional 341,168 shares during the period. 83.98% of the stock is owned by institutional investors.
Several brokerages recently issued reports on GCP. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, October 4th. TheStreet upgraded shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a research report on Friday, November 24th. KeyCorp reiterated a “buy” rating and issued a $34.00 price target on shares of GCP Applied Technologies in a research report on Friday, November 3rd. Finally, Cowen initiated coverage on shares of GCP Applied Technologies in a research report on Monday, October 30th. They issued a “market perform” rating and a $31.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $34.33.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. GCP Applied Technologies’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. equities analysts expect that GCP Applied Technologies Inc. will post 0.63 EPS for the current fiscal year.
In other GCP Applied Technologies news, Director Phillip J. Mason purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average price of $29.96 per share, with a total value of $89,880.00. Following the completion of the purchase, the director now directly owns 7,428 shares in the company, valued at $222,542.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is owned by corporate insiders.
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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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