Comerica Bank decreased its stake in US Concrete Inc (NASDAQ:USCR) by 6.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,008 shares of the construction company’s stock after selling 1,065 shares during the quarter. Comerica Bank owned approximately 0.09% of US Concrete worth $763,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new position in US Concrete during the second quarter worth approximately $29,000. Advisory Services Network LLC boosted its position in US Concrete by 20.2% during the first quarter. Advisory Services Network LLC now owns 2,498 shares of the construction company’s stock worth $103,000 after purchasing an additional 420 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in US Concrete by 55,716.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,349 shares of the construction company’s stock worth $139,000 after purchasing an additional 3,343 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in US Concrete during the second quarter worth approximately $171,000. Finally, Aperio Group LLC purchased a new position in US Concrete during the second quarter worth approximately $198,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.
A number of brokerages have issued reports on USCR. ValuEngine downgraded US Concrete from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th. BidaskClub downgraded US Concrete from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Zacks Investment Research reiterated a “sell” rating on shares of US Concrete in a research report on Saturday, July 27th. Finally, Stifel Nicolaus downgraded US Concrete from a “buy” rating to a “hold” rating and increased their price target for the stock from $51.00 to $53.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. US Concrete has an average rating of “Hold” and an average price target of $54.60.
Shares of US Concrete stock traded up $0.38 during mid-day trading on Friday, reaching $47.72. 9,694 shares of the stock traded hands, compared to its average volume of 209,717. The business has a 50-day moving average of $44.50 and a 200 day moving average of $45.47. US Concrete Inc has a fifty-two week low of $27.68 and a fifty-two week high of $54.95. The stock has a market capitalization of $783.34 million, a PE ratio of 24.70 and a beta of 1.29. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 2.16.
US Concrete (NASDAQ:USCR) last announced its earnings results on Friday, August 9th. The construction company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.62). US Concrete had a net margin of 1.06% and a return on equity of 3.05%. The firm had revenue of $367.50 million for the quarter, compared to analyst estimates of $408.18 million. During the same period in the previous year, the company earned $1.08 EPS. US Concrete’s revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that US Concrete Inc will post 2.31 EPS for the current fiscal year.
US Concrete 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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