Essex Investment Management Co. LLC cut its position in shares of U.S. Concrete Inc. (NASDAQ:USCR) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,664 shares of the company’s stock after selling 138 shares during the period. Essex Investment Management Co. LLC’s holdings in U.S. Concrete were worth $893,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Invictus RG purchased a new stake in U.S. Concrete during the first quarter valued at $134,000. Bank of Montreal Can purchased a new stake in U.S. Concrete during the second quarter valued at $140,000. Menta Capital LLC purchased a new stake in U.S. Concrete during the first quarter valued at $232,000. Sigma Planning Corp purchased a new stake in U.S. Concrete during the second quarter valued at $263,000. Finally, BNP Paribas Arbitrage SA increased its stake in U.S. Concrete by 102.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,345 shares of the company’s stock valued at $264,000 after buying an additional 2,198 shares during the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.
U.S. Concrete Inc. (NASDAQ:USCR) traded down 0.81% during midday trading on Tuesday, hitting $43.90. The stock had a trading volume of 941,336 shares. The stock has a 50-day moving average price of $50.89 and a 200 day moving average price of $59.42. The firm’s market cap is $654.99 million. U.S. Concrete Inc. has a one year low of $40.42 and a one year high of $69.66.
U.S. Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.95 by $0.41. The company had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $297.94 million. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts predict that U.S. Concrete Inc. will post $3.15 earnings per share for the current year.
Several research firms have recently weighed in on USCR. Zacks Investment Research raised U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, July 13th. Sidoti raised U.S. Concrete from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $90.00 in a report on Friday, June 10th. SunTrust Banks Inc. began coverage on U.S. Concrete in a report on Monday, August 8th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, DA Davidson began coverage on U.S. Concrete in a report on Wednesday, June 8th. They issued a “buy” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. U.S. Concrete currently has an average rating of “Buy” and a consensus price target of $77.83.
In other U.S. Concrete news, EVP Niel L. Poulsen acquired 18,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $1,008,000.00. Following the acquisition, the executive vice president now directly owns 41,481 shares of the company’s stock, valued at $2,322,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff L. Davis sold 6,000 shares of U.S. Concrete stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $65.04, for a total value of $390,240.00. Following the sale, the vice president now owns 29,130 shares in the company, valued at $1,894,615.20. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
Want to see what other hedge funds are holding USCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Concrete Inc. (NASDAQ:USCR).
Receive News & Ratings for U.S. Concrete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Concrete Inc. and related companies with MarketBeat.com's FREE daily email newsletter.