Artisan Partners Limited Partnership Cuts Holdings in GCP Applied Technologies Inc. (GCP)

Artisan Partners Limited Partnership cut its stake in shares of GCP Applied Technologies Inc. (NYSE:GCP) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,386 shares of the construction company’s stock after selling 53,069 shares during the period. Artisan Partners Limited Partnership owned 0.52% of GCP Applied Technologies worth $11,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GCP. Dimensional Fund Advisors LP raised its position in GCP Applied Technologies by 27.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,202,478 shares of the construction company’s stock valued at $36,916,000 after purchasing an additional 257,531 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in shares of GCP Applied Technologies during the third quarter worth $494,000. Schwab Charles Investment Management Inc. grew its stake in shares of GCP Applied Technologies by 21.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 402,279 shares of the construction company’s stock worth $12,350,000 after buying an additional 70,365 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of GCP Applied Technologies by 24.5% during the third quarter. Wells Fargo & Company MN now owns 275,251 shares of the construction company’s stock worth $8,450,000 after buying an additional 54,232 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of GCP Applied Technologies during the third quarter worth $4,054,000. Hedge funds and other institutional investors own 83.98% of the company’s stock.

In related news, Director Phillip J. Mason acquired 3,000 shares of the company’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 completion of the acquisition, the director now owns 7,428 shares of the company’s stock, valued at $222,542.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on the stock. TheStreet raised shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a research note on Friday, November 24th. KeyCorp reissued a “buy” rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research note on Friday, November 3rd. Zacks Investment Research raised shares of GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, October 4th. Finally, Cowen initiated coverage on shares of GCP Applied Technologies in a report on Monday, October 30th. They issued a “market perform” rating and a $31.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.33.

GCP Applied Technologies Inc. (GCP) traded down $0.15 during mid-day trading on Wednesday, reaching $32.50. 201,000 shares of the company traded hands, compared to its average volume of 469,971. The firm has a market capitalization of $2,338.92, a price-to-earnings ratio of 48.01 and a beta of 1.04. 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 Inc. has a 1-year low of $25.25 and a 1-year high of $34.22.

GCP Applied Technologies (NYSE:GCP) last released its earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. The business had revenue of $282.40 million for the quarter, compared to analyst estimates of $279.05 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. GCP Applied Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. equities analysts anticipate that GCP Applied Technologies Inc. will post 0.63 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.

Institutional Ownership by Quarter for GCP Applied Technologies (NYSE:GCP)

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