Advisors Asset Management Inc. raised its position in shares of US Concrete Inc (NASDAQ:USCR) by 68.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,700 shares of the construction company’s stock after buying an additional 4,747 shares during the period. Advisors Asset Management Inc. owned about 0.07% of US Concrete worth $614,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of USCR. Bank of New York Mellon Corp increased its holdings in shares of US Concrete by 51.9% during the second quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock worth $109,101,000 after buying an additional 709,745 shares in the last quarter. Hodges Capital Management Inc. increased its holdings in shares of US Concrete by 446.1% in the second quarter. Hodges Capital Management Inc. now owns 687,255 shares of the construction company’s stock valued at $36,081,000 after purchasing an additional 561,405 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of US Concrete in the second quarter valued at approximately $11,025,000. BlackRock Inc. increased its holdings in shares of US Concrete by 9.1% in the second quarter. BlackRock Inc. now owns 2,201,224 shares of the construction company’s stock valued at $115,564,000 after purchasing an additional 184,453 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of US Concrete by 1,816.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 106,033 shares of the construction company’s stock valued at $5,567,000 after purchasing an additional 100,500 shares in the last quarter.
In other US Concrete news, CFO John E. Kunz acquired 1,000 shares of US Concrete stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $51.76 per share, with a total value of $51,760.00. Following the completion of the purchase, the chief financial officer now owns 13,356 shares in the company, valued at $691,306.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kurt Matthew Cellar acquired 5,000 shares of US Concrete stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $48.40 per share, for a total transaction of $242,000.00. Following the completion of the purchase, the director now owns 47,309 shares of the company’s stock, valued at approximately $2,289,755.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,650 shares of company stock worth $424,178 and sold 390 shares worth $17,846. 5.30% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on USCR. BidaskClub raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Sidoti began coverage on shares of US Concrete in a report on Monday, October 15th. They issued a “buy” rating for the company. Zacks Investment Research lowered shares of US Concrete from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. DA Davidson reissued a “buy” rating and issued a $87.00 price target (down previously from $95.00) on shares of US Concrete in a report on Thursday, October 11th. Finally, SunTrust Banks set a $70.00 price target on shares of US Concrete and gave the company a “buy” rating in a report on Monday, August 6th. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $80.00.
Shares of US Concrete stock opened at $38.44 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.28 and a quick ratio of 1.10. The company has a market capitalization of $611.50 million, a P/E ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 1.38. US Concrete Inc has a fifty-two week low of $27.68 and a fifty-two week high of $86.35.
US Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Thursday, November 1st. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.42). US Concrete had a net margin of 1.69% and a return on equity of 10.56%. The business had revenue of $404.27 million during the quarter, compared to the consensus estimate of $411.35 million. During the same period in the previous year, the business posted $1.45 earnings per share. US Concrete’s revenue was up 14.0% compared to the same quarter last year. Equities analysts predict that US Concrete Inc will post 3.29 earnings per share for the current fiscal year.
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US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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