OxFORD Asset Management LLP Takes $703,000 Position in U S Concrete, Inc. (USCR)
OxFORD Asset Management LLP acquired a new position in shares of U S Concrete, Inc. (NASDAQ:USCR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,955 shares of the construction company’s stock, valued at approximately $703,000. OxFORD Asset Management LLP owned approximately 0.06% of U S Concrete at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Group LLC acquired a new position in U S Concrete in the 2nd quarter valued at approximately $400,000. Bank of New York Mellon Corp increased its position in U S Concrete by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock valued at $70,945,000 after acquiring an additional 231,798 shares during the period. American Century Companies Inc. acquired a new position in U S Concrete in the 2nd quarter valued at approximately $2,994,000. AGF Investments Inc. increased its position in U S Concrete by 8.5% in the 2nd quarter. AGF Investments Inc. now owns 122,451 shares of the construction company’s stock valued at $9,624,000 after acquiring an additional 9,602 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in U S Concrete by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 552,043 shares of the construction company’s stock valued at $35,634,000 after acquiring an additional 20,254 shares during the period.
In related news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction on Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the transaction, the vice president now directly owns 10,804 shares of the company’s stock, valued at $881,174.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction on Wednesday, August 23rd. The stock was 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 directly owns 412,091 shares in the company, valued at $31,236,497.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,561 shares of company stock worth $1,110,748. 5.90% of the stock is owned by insiders.
USCR has been the subject of several recent research reports. ValuEngine upgraded shares of U S Concrete from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of U S Concrete from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and issued a $98.00 price target on shares of U S Concrete in a research report on Thursday, September 28th. Zacks Investment Research cut shares of U S Concrete from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Citigroup Inc. upped their price target on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. U S Concrete presently has an average rating of “Buy” and an average target price of $89.00.
Shares of U S Concrete, Inc. (NASDAQ:USCR) opened at 77.80 on Tuesday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 49.30 and a beta of 1.21. U S Concrete, Inc. has a 1-year low of $45.05 and a 1-year high of $83.85. The stock has a 50 day moving average of $75.90 and a 200-day moving average of $72.54.
U S Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. The firm had revenue of $340.90 million for the quarter, compared to the consensus estimate of $342.60 million. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The business’s revenue was up 23.6% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Analysts forecast that U S Concrete, Inc. will post $3.88 earnings per share for the current year.
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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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