Lockheed Martin Investment Management Co. maintained its position in shares of US Concrete Inc (NASDAQ:USCR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the construction company’s stock at the end of the first quarter. Lockheed Martin Investment Management Co. owned approximately 0.17% of US Concrete worth $1,678,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of US Concrete by 10.1% in the third quarter. BlackRock Fund Advisors now owns 972,204 shares of the construction company’s stock valued at $44,785,000 after buying an additional 89,553 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in shares of US Concrete during the third quarter valued at approximately $34,492,000. Copper Rock Capital Partners LLC increased its position in shares of US Concrete by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 546,853 shares of the construction company’s stock valued at $34,561,000 after buying an additional 9,235 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in shares of US Concrete by 57.8% in the first quarter. Tocqueville Asset Management L.P. now owns 494,790 shares of the construction company’s stock valued at $31,939,000 after buying an additional 181,175 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of US Concrete by 25.0% in the third quarter. Principal Financial Group Inc. now owns 423,775 shares of the construction company’s stock valued at $19,521,000 after buying an additional 84,840 shares in the last quarter.
Shares of US Concrete Inc (NASDAQ:USCR) traded up 2.02% during mid-day trading on Friday, hitting $68.25. The stock had a trading volume of 430,404 shares. The stock has a 50 day moving average of $64.94 and a 200-day moving average of $63.14. The stock has a market capitalization of $1.06 billion, a P/E ratio of 43.83 and a beta of 1.19. US Concrete Inc has a 52 week low of $42.82 and a 52 week high of $71.85.
US Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, May 4th. The construction company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.44. The company had revenue of $299.10 million for the quarter, compared to analyst estimates of $274.88 million. US Concrete had a return on equity of 27.73% and a net margin of 4.41%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities research analysts predict that US Concrete Inc will post $3.74 earnings per share for the current year.
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Several research analysts have commented on USCR shares. Stifel Nicolaus lifted their price target on US Concrete to $76.00 in a research report on Wednesday, March 1st. Zacks Investment Research raised US Concrete from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. DA Davidson reissued a “buy” rating and set a $80.00 price objective on shares of US Concrete in a report on Friday, March 3rd. Finally, TheStreet lowered US Concrete from a “b+” rating to a “c+” rating in a report on Tuesday, March 14th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $80.40.
In other news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $63.21, for a total transaction of $410,865.00. Following the transaction, the chief executive officer now owns 443,892 shares in the company, valued at $28,058,413.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Niel L. Poulsen sold 12,957 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $70.00, for a total value of $906,990.00. Following the transaction, the executive vice president now owns 33,690 shares in the company, valued at approximately $2,358,300. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,707 shares of company stock worth $2,007,030. 6.90% of the stock is owned by corporate insiders.
About US Concrete
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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