Scopus Asset Management L.P. increased its position in shares of US Concrete Inc (NASDAQ:USCR) by 1,018.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,590 shares of the construction company’s stock after buying an additional 240,928 shares during the period. Scopus Asset Management L.P. owned 1.71% of US Concrete worth $17,079,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in US Concrete by 7.7% in the first quarter. State Street Corp now owns 326,862 shares of the construction company’s stock worth $21,096,000 after buying an additional 23,316 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in US Concrete during the first quarter worth approximately $213,000. Schwab Charles Investment Management Inc. raised its position in US Concrete by 10.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 59,651 shares of the construction company’s stock worth $3,851,000 after buying an additional 5,737 shares in the last quarter. BlackRock Inc. raised its position in US Concrete by 155,863.7% in the first quarter. BlackRock Inc. now owns 1,740,555 shares of the construction company’s stock worth $112,353,000 after buying an additional 1,739,439 shares in the last quarter. Finally, Balter Liquid Alternatives LLC raised its position in US Concrete by 21.6% in the first quarter. Balter Liquid Alternatives LLC now owns 35,030 shares of the construction company’s stock worth $2,261,000 after buying an additional 6,227 shares in the last quarter.
Shares of US Concrete Inc (NASDAQ:USCR) traded up 2.81% during mid-day trading on Friday, reaching $71.40. 355,449 shares of the company were exchanged. The stock has a market capitalization of $1.11 billion, a P/E ratio of 45.86 and a beta of 1.21. US Concrete Inc has a 12 month low of $42.82 and a 12 month high of $71.85. The firm has a 50-day moving average price of $68.00 and a 200 day moving average price of $64.98.
US Concrete (NASDAQ:USCR) last issued its earnings results on Thursday, May 4th. The construction company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.44. US Concrete had a net margin of 2.34% and a return on equity of 14.20%. The firm had revenue of $299.10 million during the quarter, compared to the consensus estimate of $274.88 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts anticipate that US Concrete Inc will post $3.74 EPS for the current fiscal year.
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USCR has been the subject of a number of research reports. BidaskClub upgraded shares of US Concrete from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Zacks Investment Research upgraded shares of US Concrete from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a report on Thursday, May 11th. TheStreet upgraded shares of US Concrete from a “c+” rating to a “b” rating in a report on Thursday, May 4th. DA Davidson restated a “buy” rating and set a $80.00 target price on shares of US Concrete in a report on Friday, March 3rd. Finally, Stifel Nicolaus raised their target price on shares of US Concrete to $76.00 in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $78.00.
In other US Concrete news, VP Jeffrey W. Roberts sold 2,394 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $68.00, for a total value of $162,792.00. Following the completion of the sale, the vice president now owns 34,422 shares of the company’s stock, valued at $2,340,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $65.97, for a total transaction of $428,805.00. Following the completion of the sale, the chief executive officer now directly owns 455,739 shares of the company’s stock, valued at approximately $30,065,101.83. The disclosure for this sale can be found here. Insiders sold 22,644 shares of company stock valued at $1,495,582 in the last ninety days. Insiders own 5.90% of the company’s stock.
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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