U.S. Concrete Inc. (USCR) CEO William J. Sandbrook Sells 6,500 Shares
U.S. Concrete Inc. (NASDAQ:USCR) CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $59.64, for a total transaction of $387,660.00. Following the transaction, the chief executive officer now directly owns 484,980 shares in the company, valued at approximately $28,924,207.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
U.S. Concrete Inc. (NASDAQ:USCR) opened at 58.00 on Tuesday. U.S. Concrete Inc. has a one year low of $40.42 and a one year high of $69.66. The firm has a 50 day moving average of $52.15 and a 200 day moving average of $56.15. The firm has a market capitalization of $882.88 million, a PE ratio of 47.35 and a beta of 1.40.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.12. U.S. Concrete had a net margin of 4.41% and a return on equity of 27.73%. The business earned $328.60 million during the quarter, compared to the consensus estimate of $338.65 million. During the same period in the prior year, the firm earned $1.97 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that U.S. Concrete Inc. will post $2.79 EPS for the current year.
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USCR has been the subject of several research reports. DA Davidson set a $80.00 price objective on shares of U.S. Concrete and gave the company a “buy” rating in a research report on Thursday, October 6th. SunTrust Banks Inc. initiated coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Zacks Investment Research lowered shares of U.S. Concrete from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $77.83.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copper Rock Capital Partners LLC boosted its position in U.S. Concrete by 31.3% in the third quarter. Copper Rock Capital Partners LLC now owns 541,878 shares of the company’s stock worth $25,073,000 after buying an additional 129,199 shares in the last quarter. Cortina Asset Management LLC boosted its position in U.S. Concrete by 21.2% in the second quarter. Cortina Asset Management LLC now owns 401,355 shares of the company’s stock worth $24,447,000 after buying an additional 70,337 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in U.S. Concrete during the second quarter worth about $10,457,000. Columbus Circle Investors boosted its position in U.S. Concrete by 14.6% in the second quarter. Columbus Circle Investors now owns 212,985 shares of the company’s stock worth $12,973,000 after buying an additional 27,190 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in U.S. Concrete during the second quarter worth about $632,000. 98.09% of the stock is owned by institutional investors and hedge funds.
U.S. Concrete Company Profile
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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