US Concrete Inc (USCR) VP Kevin Kohutek Sells 250 Shares

US Concrete Inc (NASDAQ:USCR) VP Kevin Kohutek sold 250 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $70.30, for a total value of $17,575.00. Following the transaction, the vice president now owns 12,726 shares in the company, valued at $894,637.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of US Concrete Inc (NASDAQ:USCR) traded down 1.42% during midday trading on Monday, reaching $69.35. The company’s stock had a trading volume of 316,973 shares. The stock has a 50 day moving average price of $65.57 and a 200-day moving average price of $58.02. US Concrete Inc has a 52-week low of $42.82 and a 52-week high of $71.35. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 127.01 and a beta of 1.19.

US Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.12. The company had revenue of $318.80 million for the quarter, compared to the consensus estimate of $313.92 million. US Concrete had a return on equity of 27.73% and a net margin of 4.41%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities research analysts expect that US Concrete Inc will post $3.56 EPS for the current year.

Insider Buying and Selling by Quarter for US Concrete (NASDAQ:USCR)

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Several brokerages recently issued reports on USCR. TheStreet cut US Concrete from a “b+” rating to a “c+” rating in a research note on Tuesday, March 14th. Zacks Investment Research cut US Concrete from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. DA Davidson restated a “buy” rating and set a $80.00 price objective on shares of US Concrete in a research note on Friday, March 3rd. Finally, Stifel Nicolaus raised their price objective on US Concrete to $76.00 in a research note on Wednesday, March 1st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $78.83.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of US Concrete by 10.1% in the third quarter. BlackRock Fund Advisors now owns 972,204 shares of the company’s stock valued at $44,785,000 after buying an additional 89,553 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in shares of US Concrete during the third quarter valued at approximately $34,492,000. Principal Financial Group Inc. increased its position in shares of US Concrete by 25.0% in the third quarter. Principal Financial Group Inc. now owns 423,775 shares of the company’s stock valued at $19,521,000 after buying an additional 84,840 shares in the last quarter. State Street Corp increased its position in shares of US Concrete by 7.6% in the fourth quarter. State Street Corp now owns 303,546 shares of the company’s stock valued at $19,884,000 after buying an additional 21,534 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its position in shares of US Concrete by 25.0% in the third quarter. Investment Counselors of Maryland LLC now owns 300,970 shares of the company’s stock valued at $13,864,000 after buying an additional 60,120 shares in the last quarter.

About US Concrete

U.S. Concrete, Inc is a producer of ready-mixed concrete in a range of geographic markets in the United States. The Company conducts its operations through two segments. 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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