Schwab Charles Investment Management Inc. grew its holdings in shares of USG Co. (NYSE:USG) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 505,799 shares of the construction company’s stock after purchasing an additional 30,738 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in USG were worth $19,504,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Leith Wheeler Investment Counsel Ltd. increased its stake in USG by 5.4% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 77,379 shares of the construction company’s stock worth $2,984,000 after purchasing an additional 3,970 shares during the period. New York State Common Retirement Fund increased its stake in USG by 2.2% during the third quarter. New York State Common Retirement Fund now owns 190,100 shares of the construction company’s stock worth $6,207,000 after purchasing an additional 4,100 shares during the period. SG Americas Securities LLC purchased a new stake in USG during the third quarter worth about $170,000. Creative Planning purchased a new stake in USG during the fourth quarter worth about $235,000. Finally, Beck Capital Management LLC purchased a new stake in USG during the third quarter worth about $327,000. Institutional investors own 85.79% of the company’s stock.
Shares of USG Co. (NYSE:USG) opened at $33.78 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.78 and a current ratio of 2.39. USG Co. has a one year low of $25.60 and a one year high of $41.18. The firm has a market cap of $4,780.00, a P/E ratio of 20.23, a P/E/G ratio of 1.29 and a beta of 1.16.
USG declared that its Board of Directors has initiated a share buyback plan on Thursday, February 1st that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of brokerages have issued reports on USG. Zacks Investment Research lowered shares of USG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Jefferies Group reiterated a “hold” rating and set a $36.00 price target on shares of USG in a research note on Friday, February 2nd. Barclays cut their price target on shares of USG from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Nomura cut their price target on shares of USG from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on shares of USG from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. USG currently has an average rating of “Hold” and a consensus price target of $37.62.
In related news, insider Dominic A. Dannessa sold 6,042 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $37.55, for a total transaction of $226,877.10. Following the sale, the insider now directly owns 63,255 shares in the company, valued at $2,375,225.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Reale sold 7,535 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $37.89, for a total value of $285,501.15. The disclosure for this sale can be found here. Insiders have sold 28,992 shares of company stock worth $1,093,870 over the last 90 days. Insiders own 0.67% of the company’s stock.
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USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company’s segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.
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