Kornitzer Capital Management Inc. KS decreased its position in US Concrete Inc (NASDAQ:USCR) by 88.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,395 shares of the construction company’s stock after selling 138,505 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.11% of US Concrete worth $843,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of USCR. Advisory Services Network LLC raised its holdings in US Concrete by 1,706.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock valued at $105,000 after acquiring an additional 1,945 shares during the period. NumerixS Investment Technologies Inc bought a new stake in US Concrete during the 2nd quarter valued at $154,000. SG Americas Securities LLC bought a new stake in US Concrete during the 2nd quarter valued at $181,000. Stevens Capital Management LP bought a new stake in US Concrete during the 2nd quarter valued at $230,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in US Concrete during the 3rd quarter valued at $208,000.
A number of equities research analysts have issued reports on USCR shares. SunTrust Banks lowered their target price on shares of US Concrete to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 21st. BidaskClub raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a report on Friday, September 14th. Zacks Investment Research cut shares of US Concrete from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. ValuEngine raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. Finally, DA Davidson reaffirmed 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $76.17.
US Concrete stock opened at $36.27 on Thursday. The firm has a market capitalization of $661.54 million, a PE ratio of 13.38, a PEG ratio of 1.70 and a beta of 1.41. US Concrete Inc has a fifty-two week low of $27.68 and a fifty-two week high of $86.35. 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 (NASDAQ:USCR) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.42). The firm had revenue of $404.27 million during the quarter, compared to the consensus estimate of $411.35 million. US Concrete had a return on equity of 10.56% and a net margin of 1.69%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. As a group, sell-side analysts anticipate that US Concrete Inc will post 2.3 earnings per share for the current year.
In other news, Director Robert Martin Rayner purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average price of $38.57 per share, with a total value of $192,850.00. Following the completion of the acquisition, the director now owns 58,028 shares in the company, valued at approximately $2,238,139.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 10,500 shares of company stock worth $386,600 and sold 390 shares worth $15,933. Corporate insiders own 5.30% of the company’s stock.
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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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