Zelman Capital Lowers stake in US Concrete Inc (USCR)

US Concrete Inc (USCR) : Zelman Capital reduced its stake in US Concrete Inc by 7.87% during the most recent quarter end. The investment management company now holds a total of 314,469 shares of US Concrete Inc which is valued at $20.2 Million after selling 26,866 shares in US Concrete Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.US Concrete Inc makes up approximately 11.49% of Zelman Capital’s portfolio.

Other Hedge Funds, Including , New Generation Advisors reduced its stake in USCR by selling 85,853 shares or 59.03% in the most recent quarter. The Hedge Fund company now holds 59,595 shares of USCR which is valued at $3.8 Million. US Concrete Inc makes up approx 2.39% of New Generation Advisors’s portfolio. Great Lakes Advisors sold out all of its stake in USCR during the most recent quarter. The investment firm sold 34,728 shares of USCR which is valued $2.2 Million. Algert Global added USCR to its portfolio by purchasing 5,755 company shares during the most recent quarter which is valued at $369,759. US Concrete Inc makes up approx 0.14% of Algert Global’s portfolio.New York State Common Retirement Fund boosted its stake in USCR in the latest quarter, The investment management firm added 820 additional shares and now holds a total of 33,812 shares of US Concrete Inc which is valued at $2.2 Million.

US Concrete Inc opened for trading at $60.03 and hit $61.73 on the upside on Friday, eventually ending the session at $61.64, with a gain of 3.20% or 1.91 points. The heightened volatility saw the trading volume jump to 3,23,161 shares. Company has a market cap of $934,216 M.

On the company’s financial health, US Concrete Inc reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.22. The company had revenue of $245.00 million for the quarter, compared to analysts expectations of $221.14 million. The company’s revenue was up 43.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on US Concrete Inc. BB&T Capital Mkts Initiated US Concrete Inc on Apr 21, 2016 to “Buy”, Price Target of the shares are set at $80.US Concrete Inc was Downgraded by Sidoti to ” Neutral” on Apr 20, 2016.

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.

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