Meeder Asset Management Inc. Boosts Position in Sterling Construction Company, Inc. (NASDAQ:STRL)

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Meeder Asset Management Inc. grew its stake in Sterling Construction Company, Inc. (NASDAQ:STRL) by 26.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,924 shares of the construction company’s stock after acquiring an additional 1,223 shares during the quarter. Meeder Asset Management Inc.’s holdings in Sterling Construction were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan increased its stake in Sterling Construction by 25.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 78,930 shares of the construction company’s stock worth $1,059,000 after buying an additional 15,940 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Sterling Construction by 72.3% during the 2nd quarter. First Trust Advisors LP now owns 165,387 shares of the construction company’s stock worth $2,219,000 after purchasing an additional 69,386 shares during the last quarter. Bowling Portfolio Management LLC boosted its holdings in shares of Sterling Construction by 16.2% during the 2nd quarter. Bowling Portfolio Management LLC now owns 100,738 shares of the construction company’s stock worth $1,352,000 after purchasing an additional 14,034 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Sterling Construction during the 2nd quarter worth approximately $262,000. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in shares of Sterling Construction by 83.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 36,381 shares of the construction company’s stock worth $488,000 after purchasing an additional 16,498 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Joseph A. Cutillo acquired 35,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $10.92 per share, with a total value of $387,660.00. Following the completion of the transaction, the chief executive officer now owns 264,527 shares of the company’s stock, valued at $2,888,634.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph A. Cutillo acquired 48,400 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of $11.01 per share, for a total transaction of $532,884.00. Following the transaction, the chief executive officer now directly owns 264,527 shares of the company’s stock, valued at approximately $2,912,442.27. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

NASDAQ:STRL opened at $10.68 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $11.96 and its two-hundred day moving average is $12.88. Sterling Construction Company, Inc. has a 52 week low of $9.71 and a 52 week high of $15.75. The stock has a market capitalization of $290.87 million, a price-to-earnings ratio of 11.48 and a beta of 1.10.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings results on Monday, August 5th. The construction company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Sterling Construction had a return on equity of 14.15% and a net margin of 2.34%. The firm had revenue of $264.09 million for the quarter, compared to analyst estimates of $280.00 million. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Sterling Construction Company, Inc. will post 1.04 EPS for the current fiscal year.

A number of research analysts recently commented on STRL shares. BidaskClub cut Sterling Construction from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. ValuEngine cut Sterling Construction from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut Sterling Construction from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

Sterling Construction Company Profile

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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Institutional Ownership by Quarter for Sterling Construction (NASDAQ:STRL)

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