U S Concrete, Inc. (NASDAQ:USCR) CEO William J. Sandbrook sold 6,500 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $76.27, for a total transaction of $495,755.00. Following the completion of the transaction, the chief executive officer now directly owns 425,345 shares in the company, valued at approximately $32,441,063.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
U S Concrete, Inc. (NASDAQ:USCR) traded up 0.90% on Tuesday, hitting $78.50. 557,977 shares of the stock traded hands. The stock has a 50-day moving average of $77.56 and a 200-day moving average of $68.62. U S Concrete, Inc. has a 12-month low of $42.82 and a 12-month high of $80.45. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 50.42 and a beta of 1.22.
U S Concrete (NASDAQ:USCR) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.11% and a return on equity of 24.23%. The company had revenue of $340.90 million for the quarter, compared to the consensus estimate of $342.60 million. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year. Analysts forecast that U S Concrete, Inc. will post $3.84 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in U S Concrete by 155,863.7% in the first quarter. BlackRock Inc. now owns 1,740,555 shares of the construction company’s stock worth $112,353,000 after buying an additional 1,739,439 shares during the period. ACK Asset Management LLC acquired a new stake in U S Concrete during the first quarter worth about $16,053,000. Scopus Asset Management L.P. increased its stake in U S Concrete by 1,018.2% in the first quarter. Scopus Asset Management L.P. now owns 264,590 shares of the construction company’s stock worth $17,079,000 after buying an additional 240,928 shares during the period. Bank of New York Mellon Corp increased its stake in U S Concrete by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock worth $70,945,000 after buying an additional 231,798 shares during the period. Finally, SG Capital Management LLC acquired a new stake in U S Concrete during the second quarter worth about $17,067,000.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of U S Concrete from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of U S Concrete from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, TheStreet raised shares of U S Concrete from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $78.00.
U S 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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