Advisors Capital Management LLC cut its holdings in USG Co. (NYSE:USG) by 96.1% in the 2nd quarter, Holdings Channel reports. The fund owned 5,666 shares of the construction company’s stock after selling 138,326 shares during the period. Advisors Capital Management LLC’s holdings in USG were worth $244,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of USG. US Bancorp DE increased its holdings in shares of USG by 54.8% during the 2nd quarter. US Bancorp DE now owns 4,055 shares of the construction company’s stock worth $174,000 after buying an additional 1,435 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of USG by 19.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,028 shares of the construction company’s stock worth $476,000 after buying an additional 1,765 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of USG by 39.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,360 shares of the construction company’s stock worth $403,000 after buying an additional 2,670 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of USG during the 2nd quarter worth $129,000. Finally, Adalta Capital Management LLC increased its holdings in shares of USG by 3.5% during the 1st quarter. Adalta Capital Management LLC now owns 95,885 shares of the construction company’s stock worth $3,876,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.
Shares of USG stock opened at $43.09 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.34 and a quick ratio of 1.69. USG Co. has a twelve month low of $29.28 and a twelve month high of $43.47. The firm has a market cap of $6.01 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94.
USG (NYSE:USG) last announced its quarterly earnings results on Wednesday, July 25th. The construction company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.11). USG had a return on equity of 13.87% and a net margin of 3.01%. The business had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $876.21 million. During the same period last year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. sell-side analysts expect that USG Co. will post 2.09 earnings per share for the current year.
A number of analysts have recently commented on USG shares. ValuEngine downgraded USG from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 2nd. Buckingham Research upped their price target on shares of USG from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 13th. Robert W. Baird cut shares of USG from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 12th. Credit Suisse Group set a $44.00 price target on shares of USG and gave the stock a “hold” rating in a research report on Monday, June 11th. Finally, Raymond James cut shares of USG from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $41.69.
In other USG news, SVP Christopher D. Macey sold 1,357 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $43.01, for a total value of $58,364.57. Following the completion of the transaction, the senior vice president now directly owns 11,114 shares of the company’s stock, valued at approximately $478,013.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Cook sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $43.15, for a total transaction of $647,250.00. Following the completion of the transaction, the insider now directly owns 63,925 shares of the company’s stock, valued at $2,758,363.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,033 shares of company stock valued at $12,618,681. 0.66% of the stock is owned by corporate insiders.
USG Corporation, through its subsidiaries, manufactures and sells building materials worldwide. The company's Gypsum division manufactures and markets gypsum and related products to construct walls, ceilings, roofs, and floors of residential, commercial, and institutional buildings, as well as for various industrial applications.
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