Northern Trust Corp boosted its stake in shares of US Concrete Inc (NASDAQ:USCR) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,402 shares of the construction company’s stock after purchasing an additional 6,221 shares during the quarter. Northern Trust Corp owned approximately 1.24% of US Concrete worth $10,994,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC increased its holdings in US Concrete by 1,706.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,059 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,945 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in US Concrete during the 2nd quarter worth about $154,000. SG Americas Securities LLC purchased a new stake in US Concrete during the 2nd quarter worth about $181,000. Stevens Capital Management LP purchased a new stake in US Concrete during the 2nd quarter worth about $230,000. Finally, LPL Financial LLC increased its holdings in US Concrete by 33.5% during the 1st quarter. LPL Financial LLC now owns 4,679 shares of the construction company’s stock worth $283,000 after purchasing an additional 1,173 shares during the period.
Several brokerages have weighed in on USCR. BidaskClub upgraded US Concrete from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Citigroup cut their price target on US Concrete from $77.00 to $74.00 and set a “$53.95” rating on the stock in a report on Monday, July 23rd. SunTrust Banks set a $70.00 price target on US Concrete and gave the stock a “buy” rating in a report on Monday, August 6th. ValuEngine upgraded US Concrete from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, DA Davidson restated a “buy” rating and set a $87.00 price target (down previously from $95.00) on shares of US Concrete in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. US Concrete presently has an average rating of “Hold” and a consensus price target of $80.00.
In other US Concrete news, Director Kurt Matthew Cellar acquired 5,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $48.40 per share, with a total value of $242,000.00. Following the transaction, the director now owns 47,309 shares in the company, valued at approximately $2,289,755.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 7,450 shares of company stock valued at $361,798 and have sold 390 shares valued at $17,846. Corporate insiders own 5.30% of the company’s stock.
NASDAQ:USCR opened at $38.32 on Friday. The stock has a market cap of $646.58 million, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. US Concrete Inc has a 1 year low of $27.68 and a 1 year high of $86.35. The company has a quick ratio of 1.10, a current ratio of 1.28 and a debt-to-equity ratio of 2.08.
US Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.42). The business had revenue of $404.27 million for the quarter, compared to analyst estimates of $411.35 million. US Concrete had a return on equity of 10.56% and a net margin of 1.69%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 earnings per share. As a group, research analysts forecast that US Concrete Inc will post 2.88 earnings per share for the current year.
US Concrete Company Profile
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 and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
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