How US Concrete Inc (USCR) Stacks Up Against Its Peers

Because US Concrete Inc (NASDAQ:USCR) has witnessed falling interest from the entirety of the hedge funds we track, it’s safe to say that there were a few fund managers that elected to cut their full holdings last quarter. At the top of the heap, Richard Driehaus’ Driehaus Capital said goodbye to the largest stake of the “upper crust” of funds monitored by Insider Monkey, valued at close to $5.2 million in stock. Jim Simons’ fund, Renaissance Technologies, also said goodbye to its stock, about $2.2 million worth. These transactions are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks similar to US Concrete Inc (NASDAQ:USCR). We will take a look at Patrick Industries, Inc. (NASDAQ:PATK), Repligen Corporation (NASDAQ:RGEN), Briggs & Stratton Corporation (NYSE:BGG), and Ethan Allen Interiors Inc. (NYSE:ETH). All of these stocks’ market caps match USCR’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $92 million. That figure was $134 million in USCR’s case. Briggs & Stratton Corporation (NYSE:BGG) is the most popular stock in this table. On the other hand Ethan Allen Interiors Inc. (NYSE:ETH) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks US Concrete Inc (NASDAQ:USCR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None