Advisors Asset Management Inc. lifted its position in shares of US Concrete Inc (NASDAQ:USCR) by 68.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,700 shares of the construction company’s stock after purchasing an additional 4,747 shares during the quarter. Advisors Asset Management Inc.’s holdings in US Concrete were worth $614,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of US Concrete by 1,706.1% during the second quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock worth $105,000 after acquiring an additional 1,945 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of US Concrete during the second quarter worth $154,000. SG Americas Securities LLC acquired a new stake in shares of US Concrete during the second quarter worth $181,000. Stevens Capital Management LP acquired a new stake in shares of US Concrete during the second quarter worth $230,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of US Concrete during the second quarter worth $265,000.
Shares of USCR stock opened at $38.44 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08. US Concrete Inc has a 1 year low of $27.68 and a 1 year high of $86.35. The firm has a market capitalization of $611.50 million, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38.
US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $411.35 million. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Research analysts expect that US Concrete Inc will post 3.29 EPS for the current year.
In other US Concrete news, CFO John E. Kunz purchased 1,000 shares of the stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $51.76 per share, for a total transaction of $51,760.00. Following the purchase, the chief financial officer now owns 13,356 shares of the company’s stock, valued at $691,306.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kurt Matthew Cellar purchased 2,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was acquired at an average price of $48.30 per share, for a total transaction of $96,600.00. Following the completion of the purchase, the director now directly 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 quarter, 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 insiders.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of US Concrete from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Citigroup dropped their price objective on shares of US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a report on Monday, July 23rd. SunTrust Banks set a $70.00 price objective on shares of US Concrete and gave the stock a “buy” rating in a report on Monday, August 6th. DA Davidson restated a “buy” rating and set a $87.00 price objective (down from $95.00) on shares of US Concrete in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered shares of US Concrete from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. Three analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $80.00.
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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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