Stifel Financial Corp Has $6.55 Million Stake in US Concrete Inc (USCR)
Stifel Financial Corp boosted its stake in shares of US Concrete Inc (NASDAQ:USCR) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,002 shares of the construction company’s stock after buying an additional 17,851 shares during the period. Stifel Financial Corp owned approximately 0.65% of US Concrete worth $6,551,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in USCR. Municipal Employees Retirement System of Michigan increased its stake in shares of US Concrete by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,060 shares of the construction company’s stock valued at $141,000 after buying an additional 40 shares during the period. State of Alaska Department of Revenue increased its stake in shares of US Concrete by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock valued at $103,000 after buying an additional 80 shares during the period. BlackRock Investment Management LLC increased its stake in shares of US Concrete by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 59,724 shares of the construction company’s stock valued at $2,751,000 after buying an additional 208 shares during the period. Comerica Bank increased its stake in shares of US Concrete by 0.5% in the fourth quarter. Comerica Bank now owns 45,153 shares of the construction company’s stock valued at $2,818,000 after buying an additional 214 shares during the period. Finally, Texas Permanent School Fund increased its stake in shares of US Concrete by 2.2% in the first quarter. Texas Permanent School Fund now owns 10,591 shares of the construction company’s stock valued at $683,000 after buying an additional 223 shares during the period.
Shares of US Concrete Inc (NASDAQ USCR) traded up 2.81% during trading on Friday, hitting $71.40. 355,449 shares of the stock traded hands. US Concrete Inc has a 52-week low of $42.82 and a 52-week high of $71.85. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 45.86 and a beta of 1.21. The stock has a 50 day moving average of $68.22 and a 200 day moving average of $65.08.
US Concrete (NASDAQ:USCR) last posted its quarterly earnings results on Thursday, May 4th. The construction company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.44. US Concrete had a return on equity of 14.20% and a net margin of 2.34%. The firm had revenue of $299.10 million for the quarter, compared to the consensus estimate of $274.88 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts expect that US Concrete Inc will post $3.74 EPS for the current year.
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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of US Concrete from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Zacks Investment Research raised shares of US Concrete from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a report on Thursday, May 11th. TheStreet raised shares of US Concrete from a “c+” rating to a “b” rating in a report on Thursday, May 4th. DA Davidson reaffirmed a “buy” rating and set a $80.00 price target on shares of US Concrete in a report on Friday, March 3rd. Finally, Stifel Nicolaus increased their price objective on shares of US Concrete to $76.00 in a research note on Wednesday, March 1st. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $78.00.
In related news, VP Jeffrey W. Roberts sold 2,394 shares of US Concrete stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $68.00, for a total transaction of $162,792.00. Following the completion of the transaction, the vice president now directly owns 34,422 shares of the company’s stock, valued at $2,340,696. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of US Concrete stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $63.21, for a total value of $410,865.00. Following the transaction, the chief executive officer now directly owns 443,892 shares of the company’s stock, valued at $28,058,413.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,644 shares of company stock worth $1,495,582. Company insiders own 5.90% of the company’s stock.
US 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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