Marshall Wace LLP reduced its stake in shares of GCP Applied Technologies Inc (NYSE:GCP) by 21.2% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,544,115 shares of the company’s stock after selling 682,682 shares during the period. Marshall Wace LLP owned approximately 3.58% of GCP Applied Technologies worth $68,055,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Exane Asset Management boosted its position in shares of GCP Applied Technologies by 24.8% in the third quarter. Exane Asset Management now owns 294,540 shares of the company’s stock valued at $8,341,000 after buying an additional 58,554 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of GCP Applied Technologies by 6.8% in the third quarter. BlackRock Fund Advisors now owns 1,915,855 shares of the company’s stock valued at $54,257,000 after buying an additional 122,664 shares during the last quarter. BlackRock Group LTD boosted its position in shares of GCP Applied Technologies by 1.7% in the third quarter. BlackRock Group LTD now owns 163,781 shares of the company’s stock valued at $4,638,000 after buying an additional 2,682 shares during the last quarter. SECOR Capital Advisors LP bought a new position in shares of GCP Applied Technologies during the third quarter valued at about $4,481,000. Finally, First Manhattan Co. boosted its position in shares of GCP Applied Technologies by 8.0% in the third quarter. First Manhattan Co. now owns 663,198 shares of the company’s stock valued at $18,781,000 after buying an additional 49,044 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
Shares of GCP Applied Technologies Inc (NYSE:GCP) remained flat at $27.20 during mid-day trading on Monday. The company’s stock had a trading volume of 192,385 shares. GCP Applied Technologies Inc has a one year low of $14.90 and a one year high of $30.12. The company has a market capitalization of $1.93 billion and a price-to-earnings ratio of 25.16. The stock’s 50 day moving average is $26.66 and its 200-day moving average is $27.35.
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GCP has been the subject of several research analyst reports. Zacks Investment Research cut shares of GCP Applied Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Seaport Global Securities began coverage on shares of GCP Applied Technologies in a research note on Friday, January 20th. They set a “buy” rating and a $32.00 price target for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $33.00 price target on shares of GCP Applied Technologies in a research note on Wednesday, November 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. GCP Applied Technologies currently has an average rating of “Buy” and a consensus price target of $30.00.
In other GCP Applied Technologies news, President Gregory E. Poling sold 53,950 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $26.71, for a total value of $1,441,004.50. Following the sale, the president now directly owns 40,280 shares in the company, valued at $1,075,878.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
GCP Applied Technologies Company Profile
GCP Applied Technologies Inc (GCP) is engaged in the production and sale of specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through three segments: Specialty Construction Chemicals (SCC), Specialty Building Materials (SBM) and Darex Packaging Technologies (Darex).
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