Investment Counselors of Maryland LLC Has $19.03 Million Stock Holdings in US Concrete Inc (NASDAQ:USCR)
Investment Counselors of Maryland LLC raised its holdings in shares of US Concrete Inc (NASDAQ:USCR) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,992 shares of the construction company’s stock after purchasing an additional 3,123 shares during the quarter. Investment Counselors of Maryland LLC’s holdings in US Concrete were worth $19,031,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. ACK Asset Management LLC acquired a new stake in shares of US Concrete during the first quarter worth $10,618,000. Penn Capital Management Co. Inc. bought a new position in shares of US Concrete in the first quarter worth $2,531,000. Red Cedar Management LP increased its position in shares of US Concrete by 29.4% in the first quarter. Red Cedar Management LP now owns 220,000 shares of the construction company’s stock worth $9,112,000 after purchasing an additional 50,000 shares during the period. Rothschild & Co. Asset Management US Inc. increased its position in shares of US Concrete by 8.4% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 419,936 shares of the construction company’s stock worth $20,867,000 after purchasing an additional 32,568 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of US Concrete by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 722,804 shares of the construction company’s stock worth $25,500,000 after purchasing an additional 26,172 shares during the period. 94.49% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on USCR shares. Stifel Nicolaus cut US Concrete from a “buy” rating to a “hold” rating and raised their price target for the stock from $51.00 to $53.00 in a research report on Thursday, July 18th. SunTrust Banks cut US Concrete from a “positive” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Wednesday, May 15th. ValuEngine upgraded US Concrete from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Zacks Investment Research reiterated a “sell” rating on shares of US Concrete in a research report on Saturday, July 27th. Finally, BidaskClub cut US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $54.60.
US Concrete (NASDAQ:USCR) last released its earnings results on Friday, August 9th. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.62). US Concrete had a net margin of 1.06% and a return on equity of 3.05%. The business had revenue of $367.50 million during the quarter, compared to the consensus estimate of $408.18 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue was down 9.1% on a year-over-year basis. As a group, research analysts predict that US Concrete Inc will post 2.31 EPS for the current fiscal year.
In other news, SVP Paul M. Jolas sold 5,053 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $46.47, for a total transaction of $234,812.91. Following the sale, the senior vice president now directly owns 18,781 shares in the company, valued at $872,753.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John E. Kunz sold 1,982 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.33, for a total value of $93,808.06. Following the sale, the chief financial officer now owns 12,592 shares in the company, valued at $595,979.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,098 shares of company stock worth $563,563. Company insiders own 4.70% of the company’s stock.
US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States, U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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