Meeder Asset Management Inc. bought a new position in US Concrete Inc (NASDAQ:USCR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,232 shares of the construction company’s stock, valued at approximately $61,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in USCR. ACK Asset Management LLC bought a new stake in shares of US Concrete during the 1st quarter valued at about $10,618,000. Penn Capital Management Co. Inc. bought a new stake in shares of US Concrete during the 1st quarter valued at about $2,531,000. Red Cedar Management LP grew its position in shares of US Concrete by 29.4% during the 1st quarter. Red Cedar Management LP now owns 220,000 shares of the construction company’s stock valued at $9,112,000 after buying an additional 50,000 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its position in shares of US Concrete by 8.4% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 419,936 shares of the construction company’s stock valued at $20,867,000 after buying an additional 32,568 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of US Concrete by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 722,804 shares of the construction company’s stock valued at $25,500,000 after buying an additional 26,172 shares during the last quarter. 94.49% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on USCR. SunTrust Banks downgraded shares of US Concrete from a “positive” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Wednesday, May 15th. Zacks Investment Research reaffirmed a “sell” rating on shares of US Concrete in a research report on Saturday, July 27th. ValuEngine raised shares of US Concrete from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus downgraded shares of US Concrete from a “buy” rating to a “hold” rating and boosted their price objective for the company from $51.00 to $53.00 in a research report on Thursday, July 18th. Finally, BidaskClub downgraded shares of US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.60.
US Concrete stock opened at $38.73 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 2.16. The firm has a 50-day moving average price of $46.44 and a two-hundred day moving average price of $45.14. The firm has a market capitalization of $694.04 million, a price-to-earnings ratio of 20.07 and a beta of 1.22. US Concrete Inc has a 52-week low of $27.68 and a 52-week high of $54.95.
US Concrete (NASDAQ:USCR) last posted its earnings results on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.62). The firm had revenue of $367.50 million for the quarter, compared to analyst estimates of $408.18 million. US Concrete had a net margin of 1.06% and a return on equity of 3.05%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. Research analysts expect that US Concrete Inc will post 2.31 earnings per share for the current year.
About US Concrete
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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