Dimensional Fund Advisors LP boosted its position in shares of US Concrete Inc (NASDAQ:USCR) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,727 shares of the construction company’s stock after buying an additional 10,227 shares during the period. Dimensional Fund Advisors LP’s holdings in US Concrete were worth $43,165,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in USCR. Schwab Charles Investment Management Inc. lifted its stake in shares of US Concrete by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,268 shares of the construction company’s stock valued at $4,735,000 after purchasing an additional 617 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of US Concrete by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 28,434 shares of the construction company’s stock valued at $2,233,000 after purchasing an additional 439 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of US Concrete by 11.9% in the 2nd quarter. Legal & General Group Plc now owns 27,066 shares of the construction company’s stock valued at $2,125,000 after purchasing an additional 2,888 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of US Concrete by 61.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,537 shares of the construction company’s stock valued at $356,000 after purchasing an additional 1,734 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of US Concrete in the 2nd quarter valued at approximately $2,994,000.
In related news, Vice Chairman William J. Sandbrook sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $82.91, for a total transaction of $746,190.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Colin Mcgill Sutherland sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.28, for a total value of $116,592.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,504 shares of company stock valued at $6,242,367 over the last three months. 5.90% of the stock is owned by corporate insiders.
US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Friday, November 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.47). US Concrete had a return on equity of 22.33% and a net margin of 0.99%. The business had revenue of $354.60 million for the quarter, compared to the consensus estimate of $364.16 million. During the same period in the prior year, the business posted $1.19 earnings per share. US Concrete’s revenue was up 7.9% on a year-over-year basis. sell-side analysts predict that US Concrete Inc will post 3.09 earnings per share for the current fiscal year.
Several research firms have recently issued reports on USCR. Zacks Investment Research raised US Concrete from a “strong sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 price objective on shares of US Concrete in a research note on Thursday, September 28th. ValuEngine lowered US Concrete from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub raised US Concrete from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, DA Davidson reaffirmed a “buy” rating on shares of US Concrete in a research note on Monday, December 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.00.
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About US Concrete
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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