Stocks News Report: U.S. Concrete, Inc. (NASDAQ:USCR)

The USA based company U.S. Concrete, Inc. (NASDAQ:USCR) closed with change of -2.53% to $55.95 with the total traded volume of 1105386 shares versus to an average volume of 425.25K. The stock was down in the 5 days activity -4.68%. The one month performance of stock was -8.13%. USCR shares are at -28.27% for the quarter and driving a -16.37% return over the course of the past year and is now at -33.11% since this point in 2018.  Right now USCR beta is 0.92. The average volatility for the week and month was at 4.47% 4.63% respectively.

U.S. Concrete, Inc. (NASDAQ:USCR) declared today that its Board of Directors (“Board”) appointed William J. Sandbrook Chairman of the Board at the Board meeting immediately following the Company’s 2018 annual meeting of stockholders on Thursday, May 17, 2018. Mr. Sandbrook, who currently serves as President and CEO of U.S. Concrete, succeeds Eugene I. Davis, who previously announced he would not seek reelection. Michael Lundin will remain in his position as Lead Independent Director of the Board.

Mr. Lundin said “Bill’s strategic vision for U.S. Concrete has resulted in the Company establishing market-leading positions in some of the most active construction markets in the country and continuous year-over-year increases in revenue and pricing growth”. “In addition, throughout his tenure as President and CEO, he has proven adept at driving returns for our stockholders and managing risk accordingly. For these reasons, we are honored to appoint him to this position.”

Mr. Sandbrook has served as President and CEO of U.S. Concrete since 2011, during which time he has solidified the Company’s balance sheet and significantly expanded its ready-mixed concrete and aggregates capacity. Over the course of his tenure, U.S. Concrete has made a series of strategic acquisitions, which have resulted in the Company being the supplier of choice in non-commoditized concrete offerings for highly specialized projects across all construction verticals in these markets.

Mr. Sandbrook stated, “I am honored to assume the role of Board Chairman and am grateful for the support of the Board and our stockholders. While we have a great foundation in place, our focus will be on continuing to execute our highly differentiated strategic initiatives to further grow our business, our backlog and stockholder returns. I look forward to working with Michael and the rest of the Board to achieve these shared objectives.”

Shares of U.S. Concrete, Inc. have been recently spotted trading -35.21% off of the 52-week high price. On the other end, company shares have been noted 4.97% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 53.30 – 86.35. Switching over to some distances from popular moving averages, we see that the stock has been recorded -7.73% away from the 50 day moving average and -23.85% away from the 200 day moving average. Moving closer, we can see that shares have been trading -5.76% off of the 20-day moving average.

Category – Business

Before joining, Ben Martz worked as a freelance writer. He has more than 10 years’ experience in journalism and public relations. His experience in public relations includes press releases, promotional materials, and working with media outlets. He also has professional experience writing news, technology, and business stories. Ben learned CFA Level 2 from CFA Institute (USA). He has worked in diverse capacities from financial research to currency trading in a span of 3 years. Ben covers Business news section.

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