Stifel Financial Corp Boosts Holdings in U S Concrete, Inc. (USCR)
Stifel Financial Corp boosted its holdings in shares of U S Concrete, Inc. (NASDAQ:USCR) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,442 shares of the construction company’s stock after acquiring an additional 16,440 shares during the quarter. Stifel Financial Corp owned 0.75% of U S Concrete worth $9,257,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Crow Point Partners LLC acquired a new position in U S Concrete in the 2nd quarter valued at approximately $147,000. Pinebridge Investments L.P. raised its stake in shares of U S Concrete by 2.8% during the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock valued at $154,000 after acquiring an additional 53 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of U S Concrete during the second quarter valued at $196,000. Municipal Employees Retirement System of Michigan raised its stake in shares of U S Concrete by 2.2% during 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 acquiring an additional 70 shares during the last quarter. Finally, ARP Americas LLC bought a new position in shares of U S Concrete during the second quarter valued at $212,000.
In related news, VP David Andrew Behring sold 361 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $81.56, for a total transaction of $29,443.16. Following the transaction, the vice president now directly owns 10,804 shares in the company, valued at approximately $881,174.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the transaction, the chief executive officer now owns 412,091 shares in the company, valued at $31,236,497.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,811 shares of company stock valued at $1,130,323. 5.90% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on USCR. Zacks Investment Research upgraded shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Tuesday, August 15th. BidaskClub downgraded U S Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $98.00 target price on shares of U S Concrete in a research report on Thursday, September 28th. Citigroup Inc. raised their target price on U S Concrete to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, ValuEngine downgraded U S Concrete from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. U S Concrete currently has a consensus rating of “Buy” and an average price target of $89.00.
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Shares of U S Concrete, Inc. (USCR) opened at 76.20 on Wednesday. The firm’s 50-day moving average is $75.53 and its 200-day moving average is $71.79. U S Concrete, Inc. has a 52-week low of $44.10 and a 52-week high of $83.85. The firm has a market cap of $1.20 billion, a P/E ratio of 48.29 and a beta of 1.21.
U S Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. The firm had revenue of $340.90 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.54 earnings per share. Analysts anticipate that U S Concrete, Inc. will post $3.89 earnings per share for the current year.
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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