Nationwide Fund Advisors increased its stake in U.S. Concrete Inc. (NASDAQ:USCR) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,966 shares of the company’s stock after buying an additional 1,936 shares during the period. Nationwide Fund Advisors owned about 0.27% of U.S. Concrete worth $2,495,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in U.S. Concrete during the first quarter worth about $2,044,000. BlackRock Fund Advisors raised its stake in 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 last quarter. Invictus RG acquired a new stake in U.S. Concrete during the first quarter worth about $134,000. BlackRock Group LTD raised its stake in U.S. Concrete by 183.4% in the first quarter. BlackRock Group LTD now owns 13,128 shares of the company’s stock worth $782,000 after buying an additional 8,496 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in U.S. Concrete by 17.5% in the first quarter. TIAA CREF Investment Management LLC now owns 52,879 shares of the company’s stock worth $3,151,000 after buying an additional 7,876 shares during the last quarter. 98.09% of the stock is owned by institutional investors.
U.S. Concrete Inc. (NASDAQ:USCR) traded up 2.88% on Monday, reaching $47.46. 50,179 shares of the company’s stock were exchanged. The company’s market capitalization is $708.10 million. U.S. Concrete Inc. has a 1-year low of $40.42 and a 1-year high of $69.66. The company has a 50 day moving average price of $50.02 and a 200-day moving average price of $59.12.
U.S. Concrete (NASDAQ:USCR) last released its earnings results 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 net margin of 1.18% and a return on equity of 40.33%. The business earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. U.S. Concrete’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Concrete Inc. will post $2.99 earnings per share for the current year.
Several research analysts have recently weighed in on USCR shares. Zacks Investment Research raised shares of U.S. Concrete from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, July 13th. DA Davidson set a $80.00 price target on shares of U.S. Concrete and gave the company a “buy” rating in a research report on Thursday. Finally, SunTrust Banks Inc. started coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $77.83.
In other news, VP Jeff L. Davis sold 6,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 29,130 shares in the company, valued at $1,894,615.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $46.99, for a total value of $305,435.00. Following the completion of the transaction, the chief executive officer now owns 495,061 shares of the company’s stock, valued at approximately $23,262,916.39. The disclosure for this sale can be found here. 6.90% of the stock is owned by company 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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