Fmr LLC Takes $120.37 Million Position in USG Co. (USG)
Fmr LLC bought a new stake in USG Co. (NYSE:USG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,791,600 shares of the construction company’s stock, valued at approximately $120,374,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its stake in shares of USG by 54.8% in the 2nd quarter. US Bancorp DE now owns 4,055 shares of the construction company’s stock valued at $174,000 after buying an additional 1,435 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of USG by 19.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,028 shares of the construction company’s stock valued at $476,000 after buying an additional 1,765 shares during the period. State of Alaska Department of Revenue grew its stake in shares of USG by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,360 shares of the construction company’s stock valued at $403,000 after buying an additional 2,670 shares during the period. Synovus Financial Corp acquired a new stake in shares of USG in the 2nd quarter valued at about $129,000. Finally, Swiss National Bank lifted its position in USG by 2.0% in the 1st quarter. Swiss National Bank now owns 162,100 shares of the construction company’s stock valued at $6,552,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.
In other USG news, SVP Joseph W. Holmes sold 7,831 shares of USG stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $43.17, for a total transaction of $338,064.27. Following the transaction, the senior vice president now owns 25,768 shares of the company’s stock, valued at approximately $1,112,404.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew F. Hilzinger sold 34,300 shares of USG stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $43.03, for a total transaction of $1,475,929.00. Following the transaction, the insider now directly owns 59,895 shares in the company, valued at approximately $2,577,281.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,033 shares of company stock worth $12,618,681. Insiders own 0.66% of the company’s stock.
USG (NYSE:USG) last posted its earnings results on Wednesday, July 25th. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.11). USG had a return on equity of 13.87% and a net margin of 3.01%. The firm had revenue of $880.00 million for the quarter, compared to the consensus estimate of $876.21 million. During the same period in the prior year, the business earned $0.44 EPS. USG’s quarterly revenue was up 8.5% compared to the same quarter last year. sell-side analysts expect that USG Co. will post 2.08 earnings per share for the current year.
USG has been the topic of several recent research reports. Citigroup raised their price target on shares of USG from $43.00 to $44.00 and gave the company a “$43.10” rating in a research report on Monday, July 23rd. ValuEngine cut shares of USG from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Barclays cut shares of USG from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $41.00 to $44.00 in a research report on Tuesday, June 12th. Credit Suisse Group set a $44.00 price target on shares of USG and gave the company a “hold” rating in a research report on Monday, June 11th. Finally, Raymond James cut shares of USG from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. USG presently has a consensus rating of “Hold” and an average price target of $41.69.
USG Corporation, through its subsidiaries, manufactures and sells building materials worldwide. The company's Gypsum division manufactures and markets gypsum and related products to construct walls, ceilings, roofs, and floors of residential, commercial, and institutional buildings, as well as for various industrial applications.
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