USG Corporation (USG) Bonds Rise 1.1% During Trading Insider Trade

An issue of USG Corporation (NYSE:USG) debt rose 1.1% against its face value during trading on Thursday following insider selling activity. The debt issue has a 4.875% coupon and is set to mature on June 1, 2027. The debt is now trading at $104.00 and was trading at $104.28 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price. Specifically, insider Dominic A. Dannessa sold 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $32.41, for a total transaction of $162,050.00. Following the completion of the transaction, the insider now directly owns 61,713 shares of the company’s stock, valued at approximately $2,000,118.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Cook sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $34.58, for a total value of $1,037,400.00. Following the transaction, the insider now directly owns 84,538 shares of the company’s stock, valued at $2,923,324.04. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Several research firms recently commented on USG. Robert W. Baird reissued a “hold” rating and set a $30.00 target price on shares of USG Corporation in a research note on Monday, August 28th. Citigroup Inc. reaffirmed a “neutral” rating and set a $34.00 price target (up from $31.00) on shares of USG Corporation in a report on Monday, October 9th. CL King downgraded USG Corporation from a “strong-buy” rating to a “neutral” rating in a report on Monday, July 24th. ValuEngine raised USG Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub downgraded USG Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.07.

USG Corporation (NYSE:USG) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $790.54 million. USG Corporation had a return on equity of 12.90% and a net margin of 14.93%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share.

A number of large investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new position in USG Corporation in the second quarter worth about $5,467,000. Amalgamated Bank grew its stake in USG Corporation by 27.2% in the second quarter. Amalgamated Bank now owns 15,920 shares of the construction company’s stock worth $462,000 after purchasing an additional 3,404 shares in the last quarter. LSV Asset Management grew its stake in USG Corporation by 5.5% in the second quarter. LSV Asset Management now owns 757,318 shares of the construction company’s stock worth $21,977,000 after purchasing an additional 39,500 shares in the last quarter. Hosking Partners LLP grew its stake in USG Corporation by 1.6% in the second quarter. Hosking Partners LLP now owns 228,640 shares of the construction company’s stock worth $6,635,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Thompson Investment Management Inc. grew its stake in USG Corporation by 10.1% in the second quarter. Thompson Investment Management Inc. now owns 12,250 shares of the construction company’s stock worth $355,000 after purchasing an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 85.80% of the company’s stock.

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USG Corporation Company Profile

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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