Balyasny Asset Management LLC cut its holdings in shares of U S Concrete, Inc. (NASDAQ:USCR) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,968 shares of the construction company’s stock after selling 126,441 shares during the period. Balyasny Asset Management LLC owned approximately 1.54% of U S Concrete worth $19,007,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in USCR. Great West Life Assurance Co. Can raised its position in shares of U S Concrete by 5.6% during the first quarter. Great West Life Assurance Co. Can now owns 20,514 shares of the construction company’s stock worth $1,323,000 after purchasing an additional 1,097 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of U S Concrete by 20.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,876 shares of the construction company’s stock valued at $767,000 after purchasing an additional 1,991 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of U S Concrete by 298.8% during the first quarter. First Trust Advisors LP now owns 37,521 shares of the construction company’s stock valued at $2,422,000 after purchasing an additional 28,112 shares during the last quarter. Swiss National Bank lifted its holdings in shares of U S Concrete by 7.0% during the first quarter. Swiss National Bank now owns 24,600 shares of the construction company’s stock valued at $1,588,000 after purchasing an additional 1,600 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of U S Concrete during the first quarter valued at $243,000.

Shares of U S Concrete, Inc. (USCR) opened at 74.40 on Tuesday. U S Concrete, Inc. has a 52 week low of $42.82 and a 52 week high of $83.85. The firm’s 50-day moving average is $75.53 and its 200 day moving average is $71.75. The firm has a market capitalization of $1.17 billion, a P/E ratio of 47.15 and a beta of 1.21.

U S Concrete (NASDAQ:USCR) last posted its earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The company had revenue of $340.90 million during the quarter, compared to analyst estimates of $342.60 million. U S Concrete had a return on equity of 25.80% and a net margin of 2.09%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. Equities research analysts forecast that U S Concrete, Inc. will post $3.91 EPS for the current fiscal year.

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A number of equities analysts recently weighed in on the company. ValuEngine lowered U S Concrete from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus restated a “buy” rating and set a $98.00 price objective on shares of U S Concrete in a report on Thursday, September 28th. Zacks Investment Research upgraded U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, August 15th. Citigroup Inc. upped 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. Finally, BidaskClub lowered shares of U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $89.00.

In related news, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total transaction of $492,700.00. Following the completion of the transaction, the chief executive officer now owns 412,091 shares in the company, valued at $31,236,497.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Andrew Behring sold 361 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $81.56, for a total transaction of $29,443.16. Following the completion of the sale, the vice president now directly owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The disclosure for this sale can be found here. Insiders sold a total of 14,611 shares of company stock worth $1,115,093 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

U S Concrete 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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Institutional Ownership by Quarter for U S Concrete (NASDAQ:USCR)

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