Louisiana State Employees Retirement System boosted its position in U.S. Concrete Inc. (NASDAQ:USCR) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 6,300 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in U.S. Concrete were worth $290,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. PineBridge Investments L.P. raised its stake in U.S. Concrete by 1.6% in the second quarter. PineBridge Investments L.P. now owns 1,716 shares of the company’s stock worth $105,000 after buying an additional 27 shares during the last quarter. Acrospire Investment Management LLC raised its stake in U.S. Concrete by 36.7% in the second quarter. Acrospire Investment Management LLC now owns 1,863 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the last quarter. Teacher Retirement System of Texas raised its stake in U.S. Concrete by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,945 shares of the company’s stock worth $118,000 after buying an additional 244 shares during the last quarter. Bank of Montreal Can bought a new stake in U.S. Concrete during the second quarter worth approximately $140,000. Finally, Invictus RG raised its stake in U.S. Concrete by 16.7% in the second quarter. Invictus RG now owns 2,624 shares of the company’s stock worth $160,000 after buying an additional 375 shares during the last quarter. Institutional investors own 98.09% of the company’s stock.
Shares of U.S. Concrete Inc. (NASDAQ:USCR) traded down 0.41% during midday trading on Friday, hitting $60.85. The stock had a trading volume of 414,784 shares. The stock has a market cap of $955.10 billion, a PE ratio of 19.50 and a beta of 1.40. U.S. Concrete Inc. has a 12 month low of $40.42 and a 12 month high of $69.66. The stock’s 50-day moving average is $51.81 and its 200-day moving average is $56.34.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.12. U.S. Concrete had a net margin of 4.41% and a return on equity of 27.73%. The firm had revenue of $328.60 million for the quarter, compared to the consensus estimate of $338.65 million. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts anticipate that U.S. Concrete Inc. will post $2.79 EPS for the current year.
A number of equities research analysts recently commented on USCR shares. SunTrust Banks Inc. started coverage on U.S. Concrete in a research report on Monday, August 8th. They issued a “buy” rating and a $75.00 price target for the company. DA Davidson set a $80.00 price target on U.S. Concrete and gave the company a “buy” rating in a research report on Thursday, October 6th. Finally, Zacks Investment Research lowered U.S. Concrete from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. U.S. Concrete presently has a consensus rating of “Buy” and an average target price of $77.83.
In other U.S. Concrete news, CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $49.05, for a total value of $318,825.00. Following the sale, the chief executive officer now directly owns 487,405 shares of the company’s stock, valued at $23,907,215.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.90% of the company’s stock.
About U.S. Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.