Falcon Point Capital LLC Has $15.58 Million Stake in U S Concrete, Inc. (USCR)
Falcon Point Capital LLC increased its position in U S Concrete, Inc. (NASDAQ:USCR) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 198,328 shares of the construction company’s stock after buying an additional 20,135 shares during the period. U S Concrete comprises about 2.1% of Falcon Point Capital LLC’s holdings, making the stock its 16th largest position. Falcon Point Capital LLC’s holdings in U S Concrete were worth $15,579,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of USCR. Essex Investment Management Co. LLC boosted its position in U S Concrete by 122.4% in the first quarter. Essex Investment Management Co. LLC now owns 35,730 shares of the construction company’s stock valued at $2,306,000 after buying an additional 19,664 shares during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its position in U S Concrete by 3.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 315,368 shares of the construction company’s stock valued at $20,357,000 after buying an additional 10,300 shares during the period. Investment Counselors of Maryland LLC boosted its position in U S Concrete by 8.3% in the first quarter. Investment Counselors of Maryland LLC now owns 326,070 shares of the construction company’s stock valued at $21,048,000 after buying an additional 25,100 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in U S Concrete during the first quarter valued at about $5,810,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in U S Concrete during the first quarter valued at about $516,000.
U S Concrete, Inc. (NASDAQ:USCR) opened at 76.40 on Friday. U S Concrete, Inc. has a 52-week low of $42.82 and a 52-week high of $80.45. The company has a 50-day moving average price of $78.05 and a 200 day moving average price of $69.17. The company has a market capitalization of $1.20 billion, a PE ratio of 48.42 and a beta of 1.22.
U S Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The business had revenue of $340.90 million for the quarter, compared to analyst estimates of $342.60 million. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts anticipate that U S Concrete, Inc. will post $3.95 earnings per share for the current year.
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Several research firms recently issued reports on USCR. Zacks Investment Research cut U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Citigroup Inc. upped their price objective on U S Concrete to $92.00 and gave the company a “buy” rating in a research report on Wednesday. BidaskClub cut U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised U S Concrete from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Two 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 a consensus target price of $82.25.
In other U S Concrete news, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $76.27, for a total value of $495,755.00. Following the transaction, the chief executive officer now directly owns 425,345 shares of the company’s stock, valued at $32,441,063.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owns 34,422 shares in the company, valued at $2,340,696. The disclosure for this sale can be found here. Insiders sold 23,044 shares of company stock worth $1,701,933 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.
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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