Point72 Europe London LLP Takes Position in U S Concrete, Inc. (USCR)
Point72 Europe London LLP purchased a new position in shares of U S Concrete, Inc. (NASDAQ:USCR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,900 shares of the construction company’s stock, valued at approximately $2,820,000. Point72 Europe London LLP owned about 0.23% of U S Concrete at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Crow Point Partners LLC acquired a new stake in shares of U S Concrete in the second quarter valued at about $147,000. Pinebridge Investments L.P. grew its stake in shares of U S Concrete by 2.8% in the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after buying an additional 53 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of U S Concrete in the second quarter valued at about $196,000. Municipal Employees Retirement System of Michigan grew its stake in shares of U S Concrete by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock valued at $210,000 after buying an additional 70 shares in the last quarter. Finally, ARP Americas LLC acquired a new stake in shares of U S Concrete in the second quarter valued at about $212,000.
A number of equities research analysts have recently issued reports on the company. ValuEngine lowered U S Concrete from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and issued a $98.00 price target on shares of U S Concrete in a report on Thursday, September 28th. Zacks Investment Research raised U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday, August 15th. Citigroup Inc. increased their price target on U S Concrete to $92.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, BidaskClub downgraded U S Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. U S Concrete has an average rating of “Buy” and a consensus price target of $89.00.
Shares of U S Concrete, Inc. (NASDAQ USCR) traded down 0.83% on Friday, reaching $77.30. The company had a trading volume of 117,149 shares. The company has a 50-day moving average price of $75.53 and a 200-day moving average price of $71.87. U S Concrete, Inc. has a 52-week low of $45.05 and a 52-week high of $83.85. The firm has a market capitalization of $1.21 billion, a PE ratio of 48.99 and a beta of 1.21.
U S Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. The business had revenue of $340.90 million for 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 firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Equities research analysts forecast that U S Concrete, Inc. will post $3.89 EPS for the current fiscal year.
In related news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $81.56, for a total transaction of $29,443.16. Following the sale, the vice president now directly owns 10,804 shares of the company’s stock, valued at $881,174.24. The transaction was disclosed in a document filed 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 dated Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the sale, 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 three months, insiders have sold 14,561 shares of company stock worth $1,110,748. 5.90% of the stock is owned by company insiders.
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.
Receive News & Ratings for U S Concrete Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U S Concrete Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.