Janus Henderson Group PLC Buys Shares of 564,561 US Concrete Inc (USCR)
Janus Henderson Group PLC bought a new position in US Concrete Inc (NASDAQ:USCR) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 564,561 shares of the construction company’s stock, valued at approximately $44,346,000. Janus Henderson Group PLC owned 3.60% of US Concrete as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Macquarie Group Ltd. raised its holdings in US Concrete by 344.4% in the 2nd quarter. Macquarie Group Ltd. now owns 122,691 shares of the construction company’s stock worth $9,637,000 after purchasing an additional 95,081 shares during the period. Royal Bank of Canada raised its holdings in US Concrete by 137.5% during the second quarter. Royal Bank of Canada now owns 6,611 shares of the construction company’s stock valued at $519,000 after acquiring an additional 3,828 shares during the period. Miles Capital Inc. bought a new stake in US Concrete during the second quarter valued at about $255,000. Tudor Investment Corp ET AL raised its holdings in US Concrete by 74.1% during the second quarter. Tudor Investment Corp ET AL now owns 13,317 shares of the construction company’s stock valued at $1,046,000 after acquiring an additional 5,666 shares during the period. Finally, HighTower Advisors LLC raised its holdings in US Concrete by 17.4% during the second quarter. HighTower Advisors LLC now owns 26,773 shares of the construction company’s stock valued at $2,094,000 after acquiring an additional 3,971 shares during the period.
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In other US Concrete news, CEO William J. Sandbrook sold 6,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total value of $492,700.00. Following the completion of the sale, the chief executive officer now owns 412,091 shares in the company, valued at approximately $31,236,497.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $29,443.16. Following the completion of the sale, the vice president now owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,561 shares of company stock valued at $1,110,748. Insiders own 5.90% of the company’s stock.
A number of equities research analysts have commented on the company. ValuEngine raised US Concrete from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut US Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Citigroup Inc. raised their price target on US Concrete to $92.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. BidaskClub cut US Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $98.00 price target on shares of US Concrete in a report on Thursday, September 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $89.00.
Shares of US Concrete Inc (NASDAQ USCR) opened at 77.70 on Friday. The firm’s 50-day moving average price is $75.90 and its 200-day moving average price is $72.47. US Concrete Inc has a 12-month low of $45.05 and a 12-month high of $83.85. The company has a market capitalization of $1.22 billion, a PE ratio of 49.24 and a beta of 1.21.
US Concrete (NASDAQ:USCR) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. US Concrete had a negative net margin of 0.64% and a negative return on equity of 4.22%. The firm had revenue of $340.90 million during the quarter, compared to the consensus estimate of $342.60 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts expect that US Concrete Inc will post $3.88 EPS for the current fiscal year.
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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