Capital Fund Management S.A. Purchases 2,300 Shares of U.S. Concrete Inc. (USCR)
Capital Fund Management S.A. increased its position in U.S. Concrete Inc. (NASDAQ:USCR) by 52.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,700 shares of the company’s stock after buying an additional 2,300 shares during the period. Capital Fund Management S.A.’s holdings in U.S. Concrete were worth $408,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in USCR. Invictus RG acquired a new stake in U.S. Concrete during the first quarter valued at $134,000. Bank of Montreal Can acquired a new stake in U.S. Concrete during the second quarter valued at $140,000. Menta Capital LLC acquired a new stake in U.S. Concrete during the first quarter valued at $232,000. Sigma Planning Corp acquired a new stake in U.S. Concrete during the second quarter valued at $263,000. Finally, BNP Paribas Arbitrage SA boosted its stake in U.S. Concrete by 102.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,345 shares of the company’s stock valued at $264,000 after buying an additional 2,198 shares in the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.
Shares of U.S. Concrete Inc. (NASDAQ:USCR) traded up 2.85% on Thursday, hitting $49.13. The company had a trading volume of 525,601 shares. The company’s market capitalization is $733.02 million. U.S. Concrete Inc. has a 12-month low of $40.42 and a 12-month high of $69.66. The firm has a 50-day moving average price of $49.30 and a 200 day moving average price of $58.82.
U.S. Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.41. U.S. Concrete had a net margin of 1.18% and a return on equity of 40.33%. The firm earned $275.80 million during the quarter, compared to analyst estimates of $297.94 million. U.S. Concrete’s revenue was up 12.7% on a year-over-year basis. Equities analysts expect that U.S. Concrete Inc. will post $2.99 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut U.S. Concrete from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson set a $80.00 price objective on U.S. Concrete and gave the company a “buy” rating in a research report on Thursday, October 6th. Finally, SunTrust Banks Inc. assumed coverage on U.S. Concrete in a research report on Monday, August 8th. They issued a “buy” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.83.
In related news, VP Jeff L. Davis sold 6,000 shares of U.S. Concrete stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $65.04, for a total value of $390,240.00. Following the sale, the vice president now owns 29,130 shares of the company’s stock, valued at approximately $1,894,615.20. 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 that occurred on Wednesday, September 21st. The shares were sold at an average price of $46.99, for a total value of $305,435.00. Following the completion of the sale, the chief executive officer now directly owns 495,061 shares in the company, valued at approximately $23,262,916.39. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. 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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