Northern Trust Corp boosted its stake in shares of US Concrete Inc (NASDAQ:USCR) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 209,402 shares of the construction company’s stock after purchasing an additional 6,221 shares during the period. Northern Trust Corp’s holdings in US Concrete were worth $10,994,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of USCR. Bank of New York Mellon Corp raised its stake in shares of US Concrete by 51.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,078,115 shares of the construction company’s stock worth $109,101,000 after buying an additional 709,745 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of US Concrete by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 11,700 shares of the construction company’s stock worth $614,000 after buying an additional 4,747 shares in the last quarter. South Street Advisors LLC raised its stake in shares of US Concrete by 6.8% during the 2nd quarter. South Street Advisors LLC now owns 44,890 shares of the construction company’s stock worth $2,356,000 after buying an additional 2,870 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of US Concrete by 3.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 411,340 shares of the construction company’s stock worth $21,596,000 after buying an additional 13,456 shares in the last quarter. Finally, GMT Capital Corp raised its stake in shares of US Concrete by 19.2% during the 2nd quarter. GMT Capital Corp now owns 384,700 shares of the construction company’s stock worth $20,197,000 after buying an additional 62,000 shares in the last quarter.
NASDAQ USCR opened at $38.32 on Friday. US Concrete Inc has a 1-year low of $27.68 and a 1-year high of $86.35. The company has a market capitalization of $646.58 million, a P/E ratio of 14.14, a PEG ratio of 1.34 and a beta of 1.38. 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 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 company had revenue of $404.27 million for the quarter, compared to analysts’ expectations of $411.35 million. US Concrete had a return on equity of 10.56% and a net margin of 1.69%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. On average, equities research analysts expect that US Concrete Inc will post 2.88 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. SunTrust Banks set a $70.00 price objective on US Concrete and gave the company a “buy” rating in a research note on Monday, August 6th. BidaskClub downgraded US Concrete from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Sidoti assumed coverage on US Concrete in a research note on Monday, October 15th. They issued a “buy” rating for the company. Citigroup dropped their price objective on US Concrete from $77.00 to $74.00 and set a “$53.95” rating for the company in a research note on Monday, July 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $87.00 price objective (down from $95.00) on shares of US Concrete in a research note on Thursday, October 11th. Three analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $80.00.
In related news, Director Kurt Matthew Cellar purchased 5,000 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was bought at an average price of $48.40 per share, with a total value of $242,000.00. Following the completion of the transaction, the director now owns 47,309 shares of the company’s stock, valued at approximately $2,289,755.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have acquired 7,450 shares of company stock valued at $361,798 and have sold 390 shares valued at $17,846. Company insiders own 5.30% of the company’s stock.
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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