PNC Financial Services Group Inc. grew its stake in shares of US Concrete Inc (NASDAQ:USCR) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 63,203 shares of the construction company’s stock after acquiring an additional 2,749 shares during the quarter. PNC Financial Services Group Inc. owned about 0.38% of US Concrete worth $2,898,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake 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 valued at $105,000 after acquiring an additional 1,945 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in US Concrete by 42.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,608 shares of the construction company’s stock valued at $399,000 after acquiring an additional 2,260 shares in the last quarter. Victory Capital Management Inc. grew its stake in US Concrete by 53.7% during the 2nd quarter. Victory Capital Management Inc. now owns 31,727 shares of the construction company’s stock valued at $1,666,000 after acquiring an additional 11,080 shares in the last quarter. IndexIQ Advisors LLC grew its stake in US Concrete by 11.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 36,214 shares of the construction company’s stock valued at $1,901,000 after acquiring an additional 3,808 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in US Concrete by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 38,069 shares of the construction company’s stock valued at $1,999,000 after acquiring an additional 1,539 shares in the last quarter.
NASDAQ:USCR opened at $37.61 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $610.08 million, a price-to-earnings ratio of 13.88, a PEG ratio of 1.57 and a beta of 1.41. US Concrete Inc has a 1-year low of $27.68 and a 1-year high of $86.35.
US Concrete (NASDAQ:USCR) last posted its earnings results on Thursday, November 1st. The construction company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.42). The firm had revenue of $404.27 million during the quarter, compared to analyst estimates of $411.35 million. US Concrete had a net margin of 1.69% and a return on equity of 10.56%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Equities analysts expect that US Concrete Inc will post 2.3 EPS for the current fiscal year.
Several analysts recently issued reports on USCR shares. BidaskClub cut shares of US Concrete from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 25th. SunTrust Banks dropped their price objective on shares of US Concrete to $47.00 and set a “buy” rating for the company in a research note on Wednesday, November 21st. Sidoti started coverage on shares of US Concrete in a research note on Monday, October 15th. They set a “buy” rating for the company. Zacks Investment Research cut shares of US Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Finally, ValuEngine raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 7th. Three investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. US Concrete presently has a consensus rating of “Hold” and a consensus price target of $76.17.
In other news, Director Robert Martin Rayner bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were bought at an average cost of $38.57 per share, for a total transaction of $192,850.00. Following the acquisition, the director now directly owns 58,028 shares of the company’s stock, valued at approximately $2,238,139.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 10,500 shares of company stock worth $386,600 and sold 390 shares worth $15,933. Insiders own 5.30% of the company’s stock.
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US Concrete 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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