U S Concrete, Inc. (USCR) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in shares of U S Concrete, Inc. (NASDAQ:USCR) by 62.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,940 shares of the construction company’s stock after acquiring an additional 21,021 shares during the period. Wells Fargo & Company MN owned about 0.35% of U S Concrete worth $4,316,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of U S Concrete by 155,863.7% during the first quarter. BlackRock Inc. now owns 1,740,555 shares of the construction company’s stock worth $112,353,000 after acquiring an additional 1,739,439 shares during the period. Bank of New York Mellon Corp grew its position in U S Concrete by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock valued at $70,945,000 after purchasing an additional 231,798 shares in the last quarter. Vanguard Group Inc. grew its position in U S Concrete by 9.0% in the first quarter. Vanguard Group Inc. now owns 779,751 shares of the construction company’s stock valued at $50,332,000 after purchasing an additional 64,092 shares in the last quarter. Dimensional Fund Advisors LP grew its position in U S Concrete by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 552,043 shares of the construction company’s stock valued at $35,634,000 after purchasing an additional 20,254 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its position in U S Concrete by 5.0% in the second quarter. Rothschild Asset Management Inc. now owns 373,365 shares of the construction company’s stock valued at $29,328,000 after purchasing an additional 17,815 shares in the last quarter.

U S Concrete, Inc. (USCR) opened at 77.70 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 49.24 and a beta of 1.21. The stock has a 50 day moving average of $75.90 and a 200-day moving average of $72.47. U S Concrete, Inc. has a 12 month low of $45.05 and a 12 month high of $83.85.

U S Concrete (NASDAQ:USCR) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The company had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities research analysts expect that U S Concrete, Inc. will post $3.88 EPS for the current year.

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In other news, VP David Andrew Behring sold 361 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the completion of the sale, the vice president now owns 10,804 shares in the company, valued at $881,174.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $76.27, for a total transaction of $495,755.00. Following the completion of the sale, the chief executive officer now owns 425,345 shares of the company’s stock, valued at approximately $32,441,063.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,561 shares of company stock valued at $1,110,748. 5.90% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on the stock. Citigroup Inc. raised their target price on shares of U S Concrete to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of U S Concrete from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, August 15th. BidaskClub downgraded shares of U S Concrete from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. ValuEngine downgraded shares of U S Concrete from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 target price on shares of U S Concrete in a research report on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. U S Concrete has an average rating of “Buy” and a consensus target price of $89.00.

U S Concrete Company Profile

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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Institutional Ownership by Quarter for U S Concrete (NASDAQ:USCR)

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