OxFORD Asset Management LLP increased its holdings in shares of US Concrete Inc (NASDAQ:USCR) by 87.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,774 shares of the construction company’s stock after acquiring an additional 7,819 shares during the quarter. OxFORD Asset Management LLP owned approximately 0.10% of US Concrete worth $1,268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of US Concrete by 4.9% in the second quarter. BlackRock Inc. now owns 1,825,946 shares of the construction company’s stock valued at $143,428,000 after purchasing an additional 85,391 shares during the period. Bank of New York Mellon Corp increased its stake in shares of US Concrete by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 930,728 shares of the construction company’s stock valued at $71,015,000 after purchasing an additional 27,548 shares during the period. Vanguard Group Inc. increased its stake in shares of US Concrete by 1.8% in the second quarter. Vanguard Group Inc. now owns 793,426 shares of the construction company’s stock valued at $62,323,000 after purchasing an additional 13,675 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of US Concrete by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 565,727 shares of the construction company’s stock valued at $43,165,000 after purchasing an additional 10,227 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of US Concrete in the second quarter valued at approximately $44,346,000.
Several equities research analysts have commented on USCR shares. Zacks Investment Research lowered shares of US Concrete from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. ValuEngine cut shares of US Concrete from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub upgraded shares of US Concrete from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. DA Davidson reiterated a “buy” rating on shares of US Concrete in a report on Monday, December 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of US Concrete in a report on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.00.
In related news, VP Mark Baker Peabody sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $77.40, for a total transaction of $77,400.00. Following the completion of the sale, the vice president now directly owns 25,263 shares in the company, valued at $1,955,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kurt Matthew Cellar sold 10,060 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $80.11, for a total transaction of $805,906.60. Following the sale, the director now owns 40,081 shares of the company’s stock, valued at $3,210,888.91. The disclosure for this sale can be found here. Insiders have sold 76,504 shares of company stock valued at $6,242,367 over the last 90 days. 5.90% of the stock is currently owned by insiders.
US Concrete Inc (USCR) traded down $0.20 during trading on Thursday, hitting $82.55. 284,027 shares of the stock traded hands, compared to its average volume of 307,816. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $1,370.00, a PE ratio of 110.07, a PEG ratio of 1.89 and a beta of 1.31. US Concrete Inc has a twelve month low of $57.95 and a twelve month high of $86.35.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Friday, November 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.47). The company had revenue of $354.60 million during the quarter, compared to the consensus estimate of $364.16 million. US Concrete had a net margin of 0.99% and a return on equity of 22.33%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.19 earnings per share. equities research analysts forecast that US Concrete Inc will post 3.09 earnings per share for the current year.
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US 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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