A number of other brokerages have also issued reports on USG. SunTrust Banks Inc. increased their target price on USG Corp. from $33.00 to $35.00 and gave the company a buy rating in a research report on Monday, August 29th. Northcoast Research lowered USG Corp. from a buy rating to a neutral rating in a research report on Wednesday, August 31st. Citigroup Inc. assumed coverage on USG Corp. in a research note on Friday, August 26th. They issued a neutral rating and a $32.00 price objective for the company. Royal Bank Of Canada raised USG Corp. from a sector perform rating to an outperform rating and set a $34.00 price objective for the company in a research note on Tuesday, September 13th. Finally, Credit Suisse Group AG reissued a sell rating on shares of USG Corp. in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $32.20.
USG Corp. (NYSE:USG) opened at 26.00 on Thursday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 3.73 and a beta of 1.96. USG Corp. has a 1-year low of $15.85 and a 1-year high of $30.84. The firm’s 50-day moving average is $27.25 and its 200 day moving average is $27.16.
USG Corp. (NYSE:USG) last announced its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.02. USG Corp. had a net margin of 26.60% and a return on equity of 21.37%. The business had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $0.53 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that USG Corp. will post $1.73 EPS for the current fiscal year.
In related news, VP Kenneth R. Banas sold 1,715 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $28.00, for a total transaction of $48,020.00. Following the completion of the sale, the vice president now directly owns 13,500 shares of the company’s stock, valued at approximately $378,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kenneth R. Banas sold 11,557 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $28.04, for a total value of $324,058.28. Following the sale, the vice president now directly owns 15,356 shares of the company’s stock, valued at $430,582.24. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of USG Corp. by 72.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,210,300 shares of the company’s stock worth $104,458,000 after buying an additional 1,770,297 shares during the period. Smith Asset Management Group LP purchased a new position in shares of USG Corp. during the second quarter worth approximately $21,292,000. Norges Bank purchased a new position in shares of USG Corp. during the fourth quarter worth approximately $13,432,000. BlueMountain Capital Management LLC boosted its position in shares of USG Corp. by 2,869.7% in the first quarter. BlueMountain Capital Management LLC now owns 323,547 shares of the company’s stock worth $8,027,000 after buying an additional 312,652 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of USG Corp. by 7.1% in the second quarter. TIAA CREF Investment Management LLC now owns 4,376,368 shares of the company’s stock worth $117,987,000 after buying an additional 288,217 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.
About USG Corp.
USG Corporation is a manufacturer and distributor of building materials. The Company produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes. The Company’s segments include Gypsum, Ceilings, Distribution, and USG Boral Building Products.
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