U S Concrete, Inc. (USCR) Position Reduced by California Public Employees Retirement System
California Public Employees Retirement System cut its stake in shares of U S Concrete, Inc. (NASDAQ:USCR) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,100 shares of the construction company’s stock after selling 800 shares during the period. California Public Employees Retirement System’s holdings in U S Concrete were worth $1,233,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Tocqueville Asset Management L.P. raised its position in shares of U S Concrete by 57.8% in the first quarter. Tocqueville Asset Management L.P. now owns 494,790 shares of the construction company’s stock valued at $31,939,000 after buying an additional 181,175 shares during the period. Monarch Partners Asset Management LLC raised its position in shares of U S Concrete by 201.3% in the first quarter. Monarch Partners Asset Management LLC now owns 196,945 shares of the construction company’s stock valued at $12,713,000 after buying an additional 131,590 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of U S Concrete during the first quarter valued at about $6,740,000. State of New Jersey Common Pension Fund D acquired a new position in shares of U S Concrete during the first quarter valued at about $5,810,000. Finally, Emerald Advisers Inc. PA raised its position in shares of U S Concrete by 22.2% in the first quarter. Emerald Advisers Inc. PA now owns 393,546 shares of the construction company’s stock valued at $25,403,000 after buying an additional 71,468 shares during the period.
U S Concrete, Inc. (USCR) opened at 78.40 on Wednesday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 50.35 and a beta of 1.22. The stock’s 50 day moving average price is $77.56 and its 200-day moving average price is $68.62. U S Concrete, Inc. has a 12 month low of $42.82 and a 12 month high of $80.45.
U S Concrete (NASDAQ:USCR) last announced its quarterly earnings data on Wednesday, August 2nd. 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 business had revenue of $340.90 million during the quarter, compared to analysts’ expectations of $342.60 million. U S Concrete had a return on equity of 24.23% and a net margin of 2.11%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities analysts anticipate that U S Concrete, Inc. will post $3.84 EPS for the current fiscal year.
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USCR has been the topic of several recent analyst reports. Zacks Investment Research lowered U S Concrete from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. TheStreet raised U S Concrete from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. BidaskClub raised U S Concrete from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, Citigroup Inc. boosted their price target on U S Concrete to $92.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $82.25.
In other U S Concrete news, VP Jeffrey W. Roberts sold 2,394 shares of U S Concrete stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $68.00, for a total transaction of $162,792.00. Following the completion of the transaction, the vice president now owns 34,422 shares in the company, valued at $2,340,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, May 24th. The shares were sold at an average price of $68.08, for a total value of $442,520.00. Following the transaction, the chief executive officer now owns 438,617 shares of the company’s stock, valued at approximately $29,861,045.36. The disclosure for this sale can be found here. Insiders have sold 23,294 shares of company stock valued at $1,719,658 in the last quarter. 5.90% of the stock is owned by company insiders.
U S Concrete Company Profile
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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