Principal Financial Group Inc. reduced its stake in U S Concrete, Inc. (NASDAQ:USCR) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 302,403 shares of the construction company’s stock after selling 6,796 shares during the quarter. Principal Financial Group Inc. owned 1.93% of U S Concrete worth $23,074,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in shares of U S Concrete by 15.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock valued at $105,000 after purchasing an additional 177 shares in the last quarter. Pinebridge Investments L.P. grew its position in shares of U S Concrete by 2.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after buying an additional 53 shares during the last quarter. First Mercantile Trust Co. purchased a new position in shares of U S Concrete in the 2nd quarter valued at $196,000. Aperio Group LLC purchased a new position in U S Concrete during the 3rd quarter worth $210,000. Finally, ARP Americas LLC purchased a new position in U S Concrete during the 2nd quarter worth $212,000.
Several brokerages have recently weighed in on USCR. BidaskClub raised shares of U S Concrete from a “sell” rating to a “hold” rating in a report on Wednesday. Citigroup raised their price objective on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, August 15th. DA Davidson restated a “buy” rating on shares of U S Concrete in a research report on Monday. Finally, ValuEngine cut shares of U S Concrete from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $89.00.
In other news, EVP Niel L. Poulsen sold 20,644 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $80.42, for a total value of $1,660,190.48. Following the completion of the sale, the executive vice president now directly owns 16,665 shares of the company’s stock, valued at $1,340,199.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Colin Mcgill Sutherland sold 1,400 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.28, for a total value of $116,592.00. The disclosure for this sale can be found here. Insiders have sold 32,954 shares of company stock valued at $2,648,939 over the last ninety days. Insiders own 5.90% of the company’s stock.
U S Concrete, Inc. (NASDAQ:USCR) traded up $0.55 during midday trading on Thursday, hitting $82.15. 510,998 shares of the stock were exchanged, compared to its average volume of 329,338. The firm has a market capitalization of $1,389.39, a PE ratio of 28.10, a P/E/G ratio of 2.69 and a beta of 1.31. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 2.35. U S Concrete, Inc. has a twelve month low of $57.95 and a twelve month high of $84.60.
U S Concrete (NASDAQ:USCR) last issued its earnings results on Friday, November 3rd. The construction company reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.47). The business had revenue of $354.60 million for the quarter, compared to analyst estimates of $364.16 million. U S Concrete had a return on equity of 22.33% and a net margin of 0.99%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. equities analysts forecast that U S Concrete, Inc. will post 3.11 earnings per share for the current fiscal year.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. 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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