King Luther Capital Management Corp Buys Shares of 38,400 GCP Applied Technologies Inc. (GCP)

King Luther Capital Management Corp bought a new stake in GCP Applied Technologies Inc. (NYSE:GCP) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 38,400 shares of the construction company’s stock, valued at approximately $1,254,000. King Luther Capital Management Corp owned about 0.05% of GCP Applied Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in GCP Applied Technologies during the fourth quarter valued at about $1,054,000. Artisan Partners Limited Partnership raised its stake in GCP Applied Technologies by 1,930.5% in the first quarter. Artisan Partners Limited Partnership now owns 491,109 shares of the construction company’s stock valued at $16,035,000 after buying an additional 466,922 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of GCP Applied Technologies during the fourth quarter valued at $253,000. Capstone Investment Advisors LLC acquired a new stake in shares of GCP Applied Technologies during the fourth quarter valued at $1,100,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of GCP Applied Technologies by 146.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 572,064 shares of the construction company’s stock valued at $15,302,000 after buying an additional 339,504 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

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

GCP Applied Technologies Inc. (NYSE GCP) traded up 4.77% during mid-day trading on Friday, reaching $31.85. 984,882 shares of the company’s stock traded hands. GCP Applied Technologies Inc. has a 12 month low of $23.54 and a 12 month high of $34.22. The company has a 50 day moving average price of $30.98 and a 200-day moving average price of $29.79. The stock has a market cap of $2.28 billion, a P/E ratio of 59.31 and a beta of 0.76.

GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings data on Tuesday, May 9th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.19 by $0.25. GCP Applied Technologies had a net margin of 2.99% and a negative return on equity of 53.77%. The business had revenue of $225.30 million for the quarter, compared to analysts’ expectations of $314.30 million. On average, analysts anticipate that GCP Applied Technologies Inc. will post $0.80 EPS for the current year.

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A number of equities analysts have commented on GCP shares. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price target (up from $33.00) on shares of GCP Applied Technologies in a research report on Sunday, March 5th. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Monness Crespi & Hardt raised shares of GCP Applied Technologies from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, March 3rd. Finally, KeyCorp raised shares of 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.50.

About GCP Applied Technologies

GCP Applied Technologies Inc produces and sells specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through three segments: Specialty Construction Chemicals, Specialty Building Materials and Darex Packaging Technologies. 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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