TIAA CREF Investment Management LLC increased its stake in shares of U S Concrete, Inc. (NASDAQ:USCR) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,055 shares of the construction company’s stock after purchasing an additional 2,567 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.39% of U S Concrete worth $4,717,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of USCR. Crow Point Partners LLC purchased a new stake in U S Concrete during the 2nd quarter worth about $147,000. First Mercantile Trust Co. purchased a new stake in U S Concrete during the 2nd quarter worth about $196,000. Municipal Employees Retirement System of Michigan increased its position in U S Concrete by 2.2% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock worth $210,000 after purchasing an additional 70 shares in the last quarter. ARP Americas LLC purchased a new stake in U S Concrete during the 2nd quarter worth about $212,000. Finally, Peregrine Asset Advisers Inc. purchased a new stake in U S Concrete during the 2nd quarter worth about $212,000.
In related news, VP David Andrew Behring sold 361 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $81.56, for a total value of $29,443.16. Following the completion of the sale, the vice president now directly owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the completion of the sale, the chief executive officer now directly owns 412,091 shares of the company’s stock, valued at $31,236,497.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,061 shares of company stock valued at $614,993. Company insiders own 5.90% of the company’s stock.
USCR has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 price objective on shares of U S Concrete in a research report on Thursday, September 28th. ValuEngine upgraded U S Concrete from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, August 15th. Citigroup Inc. lifted their price objective on U S Concrete to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, BidaskClub cut U S Concrete from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $89.00.
Shares of U S Concrete, Inc. (NASDAQ:USCR) opened at 78.80 on Friday. The firm has a 50-day moving average price of $75.99 and a 200 day moving average price of $73.34. U S Concrete, Inc. has a 12-month low of $45.05 and a 12-month high of $83.85. The stock has a market cap of $1.24 billion, a PE ratio of 49.94 and a beta of 1.21.
U S Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. The firm had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. Equities research analysts predict that U S Concrete, Inc. will post $3.83 EPS for the current fiscal year.
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U S Concrete Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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