USG Co. (USG) Shares Sold by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. lessened its position in USG Co. (NYSE:USG) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,989 shares of the construction company’s stock after selling 4,692 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in USG were worth $2,545,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of USG in the 3rd quarter valued at approximately $170,000. State of Alaska Department of Revenue purchased a new stake in shares of USG in the 4th quarter valued at approximately $196,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of USG by 45.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,351 shares of the construction company’s stock valued at $206,000 after acquiring an additional 1,681 shares in the last quarter. Creative Planning purchased a new stake in shares of USG in the 4th quarter valued at approximately $235,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of USG in the 4th quarter valued at approximately $304,000. Institutional investors and hedge funds own 85.79% of the company’s stock.
USG has been the subject of several research analyst reports. Credit Suisse Group restated an “underperform” rating and issued a $36.00 price target (up previously from $26.00) on shares of USG in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of USG from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Saturday, January 6th. Citigroup upped their price target on shares of USG from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Macquarie upped their price target on shares of USG from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. Finally, Barclays reduced their price target on shares of USG from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.62.
USG (NYSE:USG) last released its quarterly earnings data on Thursday, February 1st. The construction company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.14. The firm had revenue of $831.00 million for the quarter, compared to analyst estimates of $757.57 million. USG had a net margin of 2.96% and a return on equity of 13.59%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. equities research analysts expect that USG Co. will post 2.23 earnings per share for the current year.
USG declared that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other USG news, insider Gregory D. Salah sold 3,475 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $37.75, for a total value of $131,181.25. Following the transaction, the insider now owns 39,484 shares in the company, valued at approximately $1,490,521. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jennifer F. Scanlon sold 6,045 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $37.54, for a total transaction of $226,929.30. Following the completion of the transaction, the chief executive officer now owns 85,429 shares in the company, valued at approximately $3,207,004.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,132 shares of company stock worth $683,316. Company insiders own 0.67% of the company’s stock.
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USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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