Advisors Asset Management Inc. lowered its position in US Concrete Inc (NASDAQ:USCR) by 20.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,518 shares of the construction company’s stock after selling 2,424 shares during the period. Advisors Asset Management Inc.’s holdings in US Concrete were worth $336,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in USCR. Oppenheimer Asset Management Inc. purchased a new stake in shares of US Concrete in the fourth quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of US Concrete by 82.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,132 shares of the construction company’s stock valued at $40,000 after purchasing an additional 512 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of US Concrete in the third quarter valued at about $136,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of US Concrete in the third quarter valued at about $208,000. Finally, Virtu Financial LLC purchased a new stake in shares of US Concrete in the fourth quarter valued at about $215,000.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine raised shares of US Concrete from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. DA Davidson dropped their price objective on shares of US Concrete from $82.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, January 2nd. SunTrust Banks decreased their target price on shares of US Concrete to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, November 21st. Finally, Citigroup decreased their target price on shares of US Concrete from $63.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $64.51.
In other US Concrete news, Director Theodore P. Rossi purchased 10,000 shares of US Concrete stock in a transaction dated Monday, December 17th. The shares were acquired at an average price of $34.85 per share, with a total value of $348,500.00. Following the completion of the transaction, the director now owns 78,411 shares of the company’s stock, valued at $2,732,623.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Martin Rayner purchased 5,000 shares of US Concrete stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average cost of $38.57 per share, for a total transaction of $192,850.00. Following the transaction, the director now directly owns 58,028 shares of the company’s stock, valued at approximately $2,238,139.96. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 58,600 shares of company stock worth $2,014,186 and sold 630 shares worth $23,664. Corporate insiders own 5.30% of the company’s stock.
NASDAQ USCR opened at $40.32 on Friday. US Concrete Inc has a 12 month low of $27.68 and a 12 month high of $77.05. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.10 and a current ratio of 1.28. The stock has a market capitalization of $678.10 million, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.20 and a beta of 1.30.
US Concrete Company Profile
U.S. Concrete, Inc, through its subsidiaries, produces and sells ready-mixed concrete, aggregates, and concrete-related products and services to the construction industry in the United States and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products. The Ready-Mixed Concrete segment engages in the formulation, preparation, and delivery of ready-mixed concrete to customers' job sites; and the provision of various services that include the formulation of mixtures for specific design uses, on-site and lab-based product quality control, and customized delivery programs.
Further Reading: Reverse Stock Split
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