Acrospire Investment Management LLC increased its stake in U.S. Concrete Inc. (NASDAQ:USCR) by 36.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,863 shares of the company’s stock after buying an additional 500 shares during the period. Acrospire Investment Management LLC’s holdings in U.S. Concrete were worth $113,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in U.S. Concrete by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,945 shares of the company’s stock valued at $118,000 after buying an additional 244 shares during the period. Investment Counselors of Maryland LLC increased its position in U.S. Concrete by 36.5% in the second quarter. Investment Counselors of Maryland LLC now owns 240,850 shares of the company’s stock valued at $14,670,000 after buying an additional 64,400 shares during the period. Eaton Vance Management bought a new position in U.S. Concrete during the second quarter valued at approximately $8,918,000. Nationwide Fund Advisors increased its position in U.S. Concrete by 5.0% in the second quarter. Nationwide Fund Advisors now owns 40,966 shares of the company’s stock valued at $2,495,000 after buying an additional 1,936 shares during the period. Finally, JPMorgan Chase & Co. increased its position in U.S. Concrete by 38,478.3% in the second quarter. JPMorgan Chase & Co. now owns 8,873 shares of the company’s stock valued at $540,000 after buying an additional 8,850 shares during the period. Institutional investors and hedge funds own 98.09% of the company’s stock.

Shares of U.S. Concrete Inc. (NASDAQ:USCR) traded down 1.96% during trading on Monday, reaching $49.42. The company’s stock had a trading volume of 280,382 shares. The company’s market cap is $737.35 million. The firm’s 50-day moving average is $56.19 and its 200 day moving average is $60.19. U.S. Concrete Inc. has a 52-week low of $40.42 and a 52-week high of $69.66.

U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by $0.41. The firm had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $297.94 million. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that U.S. Concrete Inc. will post $3.15 EPS for the current fiscal year.

Several equities analysts recently commented on the company. SunTrust Banks Inc. assumed coverage on U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 target price for the company. Zacks Investment Research downgraded U.S. Concrete from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Sidoti upgraded U.S. Concrete from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, June 10th. Finally, DA Davidson assumed coverage on U.S. Concrete in a research report on Wednesday, June 8th. They set a “buy” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $77.83.

In related news, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $56.51, for a total value of $367,315.00. Following the completion of the transaction, the chief executive officer now directly owns 506,905 shares in the company, valued at $28,645,201.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Niel L. Poulsen bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average price of $56.00 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now directly owns 41,481 shares of the company’s stock, valued at approximately $2,322,936. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.

About U.S. Concrete

U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. 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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