Aigen Investment Management LP trimmed its stake in U.S. Concrete, Inc. (NASDAQ:USCR) by 49.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,454 shares of the construction company’s stock after selling 7,228 shares during the period. Aigen Investment Management LP’s holdings in U.S. Concrete were worth $547,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC bought a new stake in shares of U.S. Concrete during the 4th quarter worth approximately $680,000. BlackRock Inc. raised its position in U.S. Concrete by 9.3% during the 1st quarter. BlackRock Inc. now owns 2,801,926 shares of the construction company’s stock valued at $205,437,000 after purchasing an additional 238,145 shares in the last quarter. Royce & Associates LP raised its position in U.S. Concrete by 55.3% during the 1st quarter. Royce & Associates LP now owns 500,922 shares of the construction company’s stock valued at $36,728,000 after purchasing an additional 178,371 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in U.S. Concrete during the 4th quarter valued at $6,176,000. Finally, Victory Capital Management Inc. purchased a new position in shares of U.S. Concrete in the 1st quarter valued at $10,112,000. 72.04% of the stock is owned by institutional investors and hedge funds.
USCR has been the topic of a number of analyst reports. DA Davidson lifted their price target on U.S. Concrete from $55.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Truist lifted their price target on U.S. Concrete from $35.00 to $65.00 in a report on Wednesday, April 14th. Finally, Zacks Investment Research upgraded U.S. Concrete from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, May 25th.
Shares of USCR stock opened at $74.23 on Friday. U.S. Concrete, Inc. has a 1-year low of $20.77 and a 1-year high of $78.99. The stock’s fifty day simple moving average is $61.95. The company has a current ratio of 1.34, a quick ratio of 1.03 and a debt-to-equity ratio of 1.82. The stock has a market cap of $1.26 billion, a P/E ratio of 51.55 and a beta of 1.35.
U.S. Concrete (NASDAQ:USCR) last announced its earnings results on Thursday, May 6th. The construction company reported ($0.28) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.22. U.S. Concrete had a return on equity of 6.07% and a net margin of 1.81%. The firm had revenue of $287.50 million for the quarter, compared to the consensus estimate of $307.24 million. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. Sell-side analysts predict that U.S. Concrete, Inc. will post 2.24 EPS for the current year.
About U.S. Concrete
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, the U.S. Virgin Islands, and Canada. It operates through two segments, Ready-Mixed Concrete and Aggregate Products.
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