Sterling Construction Company, Inc. (NASDAQ:STRL) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 849,100 shares, a decrease of 8.6% from the May 30th total of 929,000 shares. Based on an average daily volume of 180,700 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.4% of the shares of the company are sold short.

Several analysts recently commented on the company. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th.

In related news, Director Roger A. Cregg purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $11.94 per share, for a total transaction of $119,400.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Sterling Construction by 260.1% during the 1st quarter. JPMorgan Chase & Co. now owns 746,631 shares of the construction company’s stock valued at $9,348,000 after purchasing an additional 539,301 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Sterling Construction by 182.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 404,487 shares of the construction company’s stock valued at $5,064,000 after purchasing an additional 261,187 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Sterling Construction by 1,815.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 203,235 shares of the construction company’s stock valued at $2,545,000 after purchasing an additional 192,624 shares during the period. Penn Capital Management Co. Inc. acquired a new position in shares of Sterling Construction during the 4th quarter valued at $1,548,000. Finally, Dalton Greiner Hartman Maher & Co. increased its position in shares of Sterling Construction by 27.5% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 598,124 shares of the construction company’s stock valued at $8,027,000 after purchasing an additional 129,182 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

STRL traded down $0.27 during trading hours on Monday, hitting $13.22. The company’s stock had a trading volume of 1,163 shares, compared to its average volume of 113,450. Sterling Construction has a fifty-two week low of $9.71 and a fifty-two week high of $16.07. The company has a quick ratio of 1.64, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $354.82 million, a price-to-earnings ratio of 14.44, a PEG ratio of 1.09 and a beta of 1.12. The business’s 50-day moving average is $13.05.

Sterling Construction (NASDAQ:STRL) last posted its earnings results on Monday, May 6th. The construction company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). Sterling Construction had a net margin of 2.36% and a return on equity of 14.67%. The business had revenue of $223.90 million during the quarter, compared to analyst estimates of $225.85 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Equities analysts expect that Sterling Construction will post 1.13 earnings per share for the current year.

Sterling Construction Company Profile

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

Further Reading: Cost of Debt

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