US Concrete Inc (USCR) : Dupont Capital Management Corp reduced its stake in US Concrete Inc by 2.33% during the most recent quarter end. The investment management company now holds a total of 293,068 shares of US Concrete Inc which is valued at $18,296,235 after selling 7,000 shares in US Concrete Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.US Concrete Inc makes up approximately 0.39% of Dupont Capital Management Corp’s portfolio.
Other Hedge Funds, Including , Palisade Capital Managementnj boosted its stake in USCR in the latest quarter, The investment management firm added 1,580 additional shares and now holds a total of 41,103 shares of US Concrete Inc which is valued at $2,566,060. US Concrete Inc makes up approx 0.11% of Palisade Capital Managementnj’s portfolio.Essex Investment Management Co reduced its stake in USCR by selling 138 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 14,664 shares of USCR which is valued at $973,103. US Concrete Inc makes up approx 0.15% of Essex Investment Management Co’s portfolio.Ls Investment Advisors boosted its stake in USCR in the latest quarter, The investment management firm added 27 additional shares and now holds a total of 477 shares of US Concrete Inc which is valued at $31,587.Independent Portfolio Consultants reduced its stake in USCR by selling 35 shares or 14.89% in the most recent quarter. The Hedge Fund company now holds 200 shares of USCR which is valued at $13,084.Curian Capital reduced its stake in USCR by selling 12,165 shares or 61.83% in the most recent quarter. The Hedge Fund company now holds 7,509 shares of USCR which is valued at $463,606. US Concrete Inc makes up approx 0.03% of Curian Capital’s portfolio.
US Concrete Inc opened for trading at $56.21 and hit $58.2 on the upside on Monday, eventually ending the session at $57.33, with a gain of 2.54% or 1.42 points. The heightened volatility saw the trading volume jump to 8,18,821 shares. Company has a market cap of $869 M.
On the company’s financial health, US Concrete Inc reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.41 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.95. The company had revenue of $275.80 million for the quarter, compared to analysts expectations of $294.25 million. The company’s revenue was up 12.7% compared to the same quarter last year.
Many Wall Street Analysts have commented on US Concrete Inc. SunTrust Initiated US Concrete Inc on Aug 8, 2016 to “Buy”, Price Target of the shares are set at $75.US Concrete Inc was Upgraded by Sidoti to ” Buy” on Jun 10, 2016. DA Davidson Initiated US Concrete Inc on Jun 9, 2016 to “Buy”, Price Target of the shares are set at $80.
U.S. Concrete Inc. is a producer of ready-mixed concrete in select markets in the United States. The Company operates through two segments: ready-mixed concrete and aggregate products. Its ready-mixed concrete engages in the formulation production and delivery of ready-mixed concrete to its customers’ job sites. It provides ready-mixed concrete from its operations in north Texas west Texas northern California New Jersey New York Washington D.C. and Oklahoma. Its aggregate products segment produces crushed stone sand and gravel from seven aggregates facilities located in New Jersey and Texas. Its customers include contractors for commercial and industrial residential street and highway and other public works construction. It has approximately 139 ready-mixed concrete plants 16 volumetric ready-mixed concrete facilities and 12 producing aggregates facilities. Its Wantage Stone reserves a site development quarry which include an 80 acre land that is located in New Jersey.