Engineers Gate Manager LP raised its position in shares of US Concrete Inc (NASDAQ:USCR) by 83.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,111 shares of the construction company’s stock after purchasing an additional 16,831 shares during the period. Engineers Gate Manager LP owned approximately 0.22% of US Concrete worth $2,832,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its holdings in shares of US Concrete by 15.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock worth $105,000 after buying an additional 177 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of US Concrete by 2.8% during the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock worth $154,000 after buying an additional 53 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of US Concrete during the second quarter worth $196,000. Aperio Group LLC acquired a new position in shares of US Concrete during the third quarter worth $210,000. Finally, ARP Americas LLC acquired a new position in shares of US Concrete during the second quarter worth $212,000.
Shares of US Concrete Inc (USCR) traded up $0.45 on Friday, reaching $83.65. 288,322 shares of the company’s stock were exchanged, compared to its average volume of 364,059. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $1,385.23, a PE ratio of 117.82, a P/E/G ratio of 2.70 and a beta of 1.31. US Concrete Inc has a twelve month low of $57.95 and a twelve month high of $86.35.
In other news, COO Ronnie A. Pruitt sold 500 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $80.20, for a total transaction of $40,100.00. Following the transaction, the chief operating officer now owns 18,156 shares of the company’s stock, valued at approximately $1,456,111.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Baker Peabody sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $77.40, for a total transaction of $77,400.00. Following the completion of the sale, the vice president now owns 25,263 shares in the company, valued at approximately $1,955,356.20. The disclosure for this sale can be found here. Insiders have sold a total of 46,454 shares of company stock worth $3,755,359 in the last three months. Insiders own 5.90% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of US Concrete from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Zacks Investment Research cut shares of US Concrete from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Stifel Nicolaus reissued a “buy” rating and issued a $98.00 price objective on shares of US Concrete in a research note on Thursday, September 28th. ValuEngine cut shares of US Concrete from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, DA Davidson reissued a “buy” rating on shares of US Concrete in a research note on Monday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price 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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