NJ State Employees Deferred Compensation Plan Boosts Stake in U S Concrete, Inc. (USCR)

NJ State Employees Deferred Compensation Plan lifted its stake in U S Concrete, Inc. (NASDAQ:USCR) by 71.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,000 shares of the construction company’s stock after acquiring an additional 5,000 shares during the quarter. NJ State Employees Deferred Compensation Plan owned approximately 0.08% of U S Concrete worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its holdings in U S Concrete by 15.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,337 shares of the construction company’s stock worth $105,000 after purchasing an additional 177 shares in the last quarter. Crow Point Partners LLC bought a new stake in U S Concrete in the second quarter worth $147,000. Pinebridge Investments L.P. boosted its holdings in U S Concrete by 2.8% in the second quarter. Pinebridge Investments L.P. now owns 1,961 shares of the construction company’s stock worth $154,000 after purchasing an additional 53 shares in the last quarter. First Mercantile Trust Co. bought a new stake in U S Concrete in the second quarter worth $196,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in U S Concrete by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock worth $210,000 after purchasing an additional 70 shares in the last quarter.

U S Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The firm had revenue of $340.90 million for the quarter, compared to analyst estimates of $342.60 million. During the same period in the previous year, the business earned $0.54 EPS. The company’s revenue was up 23.6% compared to the same quarter last year.

A number of brokerages recently issued reports on USCR. Zacks Investment Research cut shares of U S Concrete from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine cut shares of U S Concrete from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of U S Concrete in a report on Thursday, September 28th. Citigroup Inc. upped their price objective on shares of U S Concrete to $92.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, BidaskClub cut shares of U S Concrete from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $89.00.

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In other news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $81.56, for a total value of $29,443.16. Following the completion of the transaction, the vice president now owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $75.80, for a total transaction of $492,700.00. Following the completion of the transaction, the chief executive officer now directly owns 412,091 shares of the company’s stock, valued at approximately $31,236,497.80. The disclosure for this sale can be found here. Insiders sold a total of 7,611 shares of company stock worth $579,808 over the last quarter. Company insiders own 5.90% of the company’s stock.

U S Concrete Company Profile

U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. 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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Institutional Ownership by Quarter for U S Concrete (NASDAQ:USCR)

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