Ameriprise Financial Inc. Has $28.09 Million Position in U S Concrete, Inc. (USCR)
Ameriprise Financial Inc. boosted its stake in shares of U S Concrete, Inc. (NASDAQ:USCR) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 368,121 shares of the construction company’s stock after purchasing an additional 48,630 shares during the period. Ameriprise Financial Inc. owned about 2.21% of U S Concrete worth $28,088,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new position in shares of U S Concrete in the second quarter valued at about $44,346,000. Victory Capital Management Inc. lifted its position in shares of U S Concrete by 495.6% in the third quarter. Victory Capital Management Inc. now owns 379,520 shares of the construction company’s stock valued at $28,958,000 after acquiring an additional 315,796 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of U S Concrete by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock worth $70,945,000 after purchasing an additional 231,798 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of U S Concrete by 52.9% in the second quarter. Hood River Capital Management LLC now owns 386,412 shares of the construction company’s stock worth $30,353,000 after purchasing an additional 133,660 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of U S Concrete by 344.4% in the second quarter. Macquarie Group Ltd. now owns 122,691 shares of the construction company’s stock worth $9,637,000 after purchasing an additional 95,081 shares during the last quarter.
USCR has been the topic of several analyst reports. ValuEngine raised U S Concrete from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $98.00 target price on shares of U S Concrete in a research note on Thursday, September 28th. Zacks Investment Research lowered U S Concrete from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. DA Davidson restated a “buy” rating on shares of U S Concrete in a report on Monday. Finally, BidaskClub upgraded U S Concrete from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $89.00.
Shares of U S Concrete, Inc. (USCR) opened at $81.60 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $1,360.00, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.68 and a beta of 1.31. 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 quarterly earnings results on Friday, November 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. equities analysts forecast that U S Concrete, Inc. will post 3.11 EPS for the current year.
In other news, Director Kurt Matthew Cellar sold 10,060 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $80.11, for a total transaction of $805,906.60. Following the transaction, the director now directly owns 40,081 shares of the company’s stock, valued at $3,210,888.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Niel L. Poulsen sold 20,644 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $80.42, for a total value of $1,660,190.48. Following the transaction, the executive vice president now directly owns 16,665 shares in the company, valued at $1,340,199.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,954 shares of company stock worth $2,648,939. Insiders own 5.90% of the company’s stock.
About U S Concrete
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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