PineBridge Investments L.P. boosted its position in U.S. Concrete Inc. (NASDAQ:USCR) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 1,716 shares of the company’s stock after buying an additional 27 shares during the period. PineBridge Investments L.P.’s holdings in U.S. Concrete were worth $105,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of U.S. Concrete by 127.5% in the first quarter. BlackRock Fund Advisors now owns 897,377 shares of the company’s stock worth $53,466,000 after buying an additional 502,993 shares during the period. GM Advisory Group Inc. purchased a new stake in shares of U.S. Concrete during the second quarter worth approximately $13,421,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of U.S. Concrete during the second quarter worth approximately $10,457,000. Eaton Vance Management purchased a new stake in shares of U.S. Concrete during the second quarter worth approximately $8,918,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of U.S. Concrete during the second quarter worth approximately $7,308,000. Institutional investors and hedge funds own 98.09% of the company’s stock.
U.S. Concrete Inc. (NASDAQ:USCR) opened at 46.66 on Friday. The firm’s 50-day moving average is $50.29 and its 200-day moving average is $59.22. The firm’s market capitalization is $696.17 million. U.S. Concrete Inc. has a 12 month low of $40.42 and a 12 month high of $69.66.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by $0.41. U.S. Concrete had a return on equity of 40.33% and a net margin of 1.18%. The firm earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts expect that U.S. Concrete Inc. will post $2.99 EPS for the current year.
Several research firms recently issued reports on USCR. Zacks Investment Research raised shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, July 13th. Sidoti raised shares of U.S. Concrete from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, June 10th. Finally, SunTrust Banks Inc. began coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They issued a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.83.
In other U.S. Concrete news, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $66.07, for a total transaction of $429,455.00. Following the completion of the sale, the chief executive officer now owns 509,867 shares of the company’s stock, valued at $33,686,912.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff L. Davis sold 6,000 shares of the company’s 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 directly owns 29,130 shares of the company’s stock, valued at approximately $1,894,615.20. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
U.S. Concrete Company Profile
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.
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