Schwab Charles Investment Management Inc. increased its holdings in shares of US Concrete Inc (NASDAQ:USCR) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,115 shares of the construction company’s stock after acquiring an additional 2,998 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in US Concrete were worth $6,117,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aperio Group LLC acquired a new stake in US Concrete during the third quarter worth about $210,000. Commonwealth Equity Services Inc acquired a new stake in US Concrete during the third quarter worth about $217,000. Deprince Race & Zollo Inc. acquired a new stake in US Concrete during the third quarter worth about $229,000. Crossmark Global Holdings Inc. acquired a new stake in US Concrete during the third quarter worth about $243,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in US Concrete during the third quarter worth about $290,000.
In other US Concrete news, VP Jeff L. Davis sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $82.41, for a total value of $988,920.00. Following the sale, the vice president now owns 13,022 shares in the company, valued at $1,073,143.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ronnie A. Pruitt sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $80.20, for a total transaction of $40,100.00. Following the completion of the sale, the chief operating officer now owns 18,156 shares in the company, valued at approximately $1,456,111.20. The disclosure for this sale can be found here. Insiders sold 64,460 shares of company stock worth $5,233,987 in the last 90 days. 5.90% of the stock is owned by company insiders.
USCR has been the topic of several research reports. Zacks Investment Research lowered shares of US Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, February 10th. DA Davidson reiterated a “buy” rating on shares of US Concrete in a research note on Monday, December 4th. BidaskClub upgraded shares of US Concrete from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. ValuEngine lowered shares of US Concrete from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price objective on shares of US Concrete in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $89.80.
Shares of US Concrete Inc (NASDAQ USCR) opened at $66.30 on Tuesday. US Concrete Inc has a 12 month low of $58.75 and a 12 month high of $86.35. The company has a market cap of $1,100.00, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 1.26, a current ratio of 1.50 and a debt-to-equity ratio of 2.21.
US Concrete (NASDAQ:USCR) last announced its quarterly earnings results on Thursday, March 1st. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.27). US Concrete had a net margin of 1.91% and a return on equity of 17.54%. The firm had revenue of $341.35 million during the quarter, compared to analyst estimates of $354.33 million. During the same quarter in the previous year, the business posted $0.82 EPS. US Concrete’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities research analysts forecast that US Concrete Inc will post 5.04 EPS for the current fiscal year.
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US Concrete Company 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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