California Public Employees Retirement System lessened its holdings in shares of US Concrete Inc (NASDAQ:USCR) by 10.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,401 shares of the construction company’s stock after selling 2,865 shares during the period. California Public Employees Retirement System owned 0.15% of US Concrete worth $1,334,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of US Concrete by 51.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock valued at $109,101,000 after buying an additional 709,745 shares during the period. Hodges Capital Management Inc. grew its holdings in shares of US Concrete by 446.1% in the 2nd quarter. Hodges Capital Management Inc. now owns 687,255 shares of the construction company’s stock valued at $36,081,000 after buying an additional 561,405 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of US Concrete in the 2nd quarter valued at $11,025,000. BlackRock Inc. grew its holdings in shares of US Concrete by 9.1% in the 2nd quarter. BlackRock Inc. now owns 2,201,224 shares of the construction company’s stock valued at $115,564,000 after buying an additional 184,453 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of US Concrete by 1,816.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 106,033 shares of the construction company’s stock valued at $5,567,000 after buying an additional 100,500 shares during the period.
Several equities analysts have recently issued reports on the stock. 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. BidaskClub lowered shares of US Concrete from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Sidoti assumed coverage on shares of US Concrete in a report on Monday, October 15th. They issued a “buy” rating for the company. Citigroup decreased their price target on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a report on Monday, July 23rd. Finally, 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. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $80.00.
Shares of NASDAQ USCR opened at $37.22 on Tuesday. The firm has a market capitalization of $611.50 million, a P/E ratio of 13.73, a P/E/G ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.28 and a quick ratio of 1.10. US Concrete Inc has a 1-year low of $27.68 and a 1-year high of $86.35.
US Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.42). The company had revenue of $404.27 million during the quarter, compared to analyst estimates of $411.35 million. US Concrete had a return on equity of 10.56% and a net margin of 1.69%. US Concrete’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. Sell-side analysts expect that US Concrete Inc will post 3.29 earnings per share for the current year.
In related news, CFO John E. Kunz bought 1,000 shares of US Concrete stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average cost of $51.76 per share, with a total value of $51,760.00. Following the purchase, the chief financial officer now owns 13,356 shares in the company, valued at $691,306.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kurt Matthew Cellar bought 2,000 shares of US Concrete stock in a transaction that occurred on Tuesday, September 4th. The stock was bought at an average cost of $48.30 per share, with a total value of $96,600.00. Following the completion of the purchase, the director now owns 45,309 shares in the company, valued at approximately $2,188,424.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 8,650 shares of company stock valued at $424,178 and sold 390 shares valued at $17,846. 5.30% of the stock is currently owned by corporate insiders.
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About US Concrete
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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