US Concrete Inc (NASDAQ:USCR) CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $65.97, for a total value of $428,805.00. Following the sale, the chief executive officer now directly owns 455,739 shares of the company’s stock, valued at $30,065,101.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of US Concrete Inc (NASDAQ:USCR) opened at 60.80 on Monday. The stock has a market cap of $939.97 million, a price-to-earnings ratio of 111.36 and a beta of 1.19. The company has a 50-day moving average price of $65.62 and a 200 day moving average price of $58.44. US Concrete Inc has a one year low of $42.82 and a one year high of $71.35.
US Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.12. US Concrete had a return on equity of 27.73% and a net margin of 4.41%. The company had revenue of $318.80 million for the quarter, compared to analyst estimates of $313.92 million. During the same period in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that US Concrete Inc will post $3.56 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its stake in US Concrete by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,060 shares of the company’s stock valued at $141,000 after buying an additional 40 shares in the last quarter. Quantbot Technologies LP raised its stake in US Concrete by 238.8% in the third quarter. Quantbot Technologies LP now owns 4,773 shares of the company’s stock valued at $219,000 after buying an additional 3,364 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in US Concrete during the third quarter valued at $221,000. Greenwood Capital Associates LLC purchased a new stake in US Concrete during the fourth quarter valued at $232,000. Finally, Louisiana State Employees Retirement System raised its stake in US Concrete by 3.3% in the third quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the company’s stock valued at $290,000 after buying an additional 200 shares in the last quarter.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised US Concrete from a “strong sell” rating to a “hold” rating in a research report on Friday, January 6th. TheStreet lowered US Concrete from a “b+” rating to a “c+” rating in a research report on Tuesday, March 14th. DA Davidson reaffirmed a “buy” rating and set a $80.00 target price on shares of US Concrete in a research report on Friday, March 3rd. Finally, Stifel Nicolaus raised their target price on US Concrete to $76.00 in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.83.
US Concrete Company Profile
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.
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