USG Corporation (USG) Sees Large Drop in Short Interest
USG Corporation (NYSE:USG) was the target of a significant drop in short interest in the month of September. As of September 29th, there was short interest totalling 12,115,500 shares, a drop of 25.9% from the September 15th total of 16,342,948 shares. Based on an average daily volume of 2,647,856 shares, the days-to-cover ratio is presently 4.6 days. Approximately 9.5% of the company’s stock are sold short.
Shares of USG Corporation (NYSE USG) opened at 33.74 on Friday. USG Corporation has a 12-month low of $23.71 and a 12-month high of $34.67. The firm has a market cap of $4.84 billion, a PE ratio of 10.82 and a beta of 1.00. The firm’s 50-day moving average is $31.87 and its 200-day moving average is $29.68.
USG Corporation (NYSE:USG) last released its earnings results on Wednesday, July 26th. The construction company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The business had revenue of $811.00 million for the quarter, compared to analysts’ expectations of $809.44 million. USG Corporation had a net margin of 14.94% and a return on equity of 13.57%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. Equities analysts expect that USG Corporation will post $1.66 earnings per share for the current fiscal year.
In other news, insider Dominic A. Dannessa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $32.41, for a total value of $162,050.00. Following the completion of the transaction, the insider now owns 61,713 shares of the company’s stock, valued at $2,000,118.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.67% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in USG. Karp Capital Management Corp purchased a new position in shares of USG Corporation during the 1st quarter valued at approximately $538,000. Parametric Portfolio Associates LLC boosted its stake in shares of USG Corporation by 3.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 187,925 shares of the construction company’s stock valued at $5,976,000 after buying an additional 5,969 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of USG Corporation by 70.1% during the 1st quarter. SG Americas Securities LLC now owns 10,543 shares of the construction company’s stock valued at $335,000 after buying an additional 4,346 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of USG Corporation by 9.7% during the 1st quarter. Teachers Advisors LLC now owns 457,070 shares of the construction company’s stock valued at $14,535,000 after buying an additional 40,312 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of USG Corporation by 0.4% during the 1st quarter. California Public Employees Retirement System now owns 165,300 shares of the construction company’s stock valued at $5,257,000 after buying an additional 600 shares during the last quarter. Institutional investors own 86.93% of the company’s stock.
USG has been the topic of several analyst reports. Robert W. Baird reaffirmed a “hold” rating and issued a $30.00 target price on shares of USG Corporation in a report on Monday, August 28th. ValuEngine raised shares of USG Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. BidaskClub cut shares of USG Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Barclays PLC raised shares of USG Corporation from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $26.00 in a report on Sunday, July 30th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $34.00 target price (up previously from $31.00) on shares of USG Corporation in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.93.
About USG Corporation
USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It 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.
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