US Concrete Inc (USCR) : Hodges Capital Management reduced its stake in US Concrete Inc by 0.57% during the most recent quarter end. The investment management company now holds a total of 711,565 shares of US Concrete Inc which is valued at $44.4 Million after selling 4,065 shares in US Concrete Inc , the firm said in a disclosure report filed with the SEC on May 26, 2016.US Concrete Inc makes up approximately 2.02% of Hodges Capital Management’s portfolio.
Other Hedge Funds, Including , Tower Research Capital (trc) reduced its stake in USCR by selling 62 shares or 31.0% in the most recent quarter. The Hedge Fund company now holds 138 shares of USCR which is valued at $8,506. Assetmark Inc sold out all of its stake in USCR during the most recent quarter. The investment firm sold 18 shares of USCR which is valued $1,157.Eulav Asset Management boosted its stake in USCR in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 24,600 shares of US Concrete Inc which is valued at $1.6 Million. US Concrete Inc makes up approx 0.09% of Eulav Asset Management’s portfolio.Royce Associates Lp reduced its stake in USCR by selling 72,600 shares or 23.67% in the most recent quarter. The Hedge Fund company now holds 234,104 shares of USCR which is valued at $15 Million. US Concrete Inc makes up approx 0.10% of Royce Associates Lp’s portfolio.
US Concrete Inc closed down -0.87 points or -1.36% at $63.27 with 3,14,148 shares getting traded on Wednesday. Post opening the session at $64.07, the shares hit an intraday low of $62.64 and an intraday high of $65 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.