William J. Sandbrook Sells 6,500 Shares of U.S. Concrete Inc. (USCR) Stock
U.S. Concrete Inc. (NASDAQ:USCR) CEO William J. Sandbrook sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $59.64, for a total transaction of $387,660.00. Following the completion of the sale, the chief executive officer now directly owns 484,980 shares in the company, valued at approximately $28,924,207.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
U.S. Concrete Inc. (NASDAQ:USCR) opened at 56.95 on Wednesday. The stock has a market cap of $866.89 million, a PE ratio of 46.49 and a beta of 1.40. U.S. Concrete Inc. has a 52 week low of $40.42 and a 52 week high of $69.66. The company’s 50-day moving average is $52.15 and its 200 day moving average is $56.15.
U.S. Concrete (NASDAQ:USCR) last released its quarterly earnings data on Thursday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.12. The company had revenue of $328.60 million for the quarter, compared to the consensus estimate of $338.65 million. U.S. Concrete had a net margin of 4.41% and a return on equity of 27.73%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.97 EPS. On average, analysts expect that U.S. Concrete Inc. will post $2.79 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in USCR. Scopus Asset Management L.P. bought a new stake in U.S. Concrete during the third quarter valued at about $34,492,000. Bowen Hanes & Co. Inc. acquired a new position in U.S. Concrete during the second quarter worth $15,532,000. GM Advisory Group Inc. acquired a new position in U.S. Concrete during the second quarter worth $13,421,000. Kornitzer Capital Management Inc. KS acquired a new position in U.S. Concrete during the second quarter worth $10,457,000. Finally, Eaton Vance Management acquired a new position in U.S. Concrete during the second quarter worth $8,918,000. Hedge funds and other institutional investors own 98.09% of the company’s stock.
USCR has been the topic of several research reports. DA Davidson set a $80.00 price target on shares of U.S. Concrete and gave the company a “buy” rating in a research report on Thursday, October 6th. SunTrust Banks Inc. initiated coverage on shares of U.S. Concrete in a research report on Monday, August 8th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Zacks Investment Research lowered shares of U.S. Concrete from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. U.S. Concrete currently has a consensus rating of “Buy” and a consensus target price of $77.83.
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.
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