489,704 Shares in Concrete Pumping Holdings, Inc. $BBCP Acquired by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 489,704 shares of the company’s stock, valued at approximately $5,901,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.97% of Concrete Pumping at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBCP. Royal Bank of Canada boosted its position in shares of Concrete Pumping by 5.7% during the 1st quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock valued at $878,000 after purchasing an additional 8,620 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Concrete Pumping in the first quarter valued at approximately $78,000. Empowered Funds LLC increased its holdings in shares of Concrete Pumping by 3.7% during the first quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock valued at $1,757,000 after acquiring an additional 11,605 shares in the last quarter. Jane Street Group LLC raised its position in shares of Concrete Pumping by 166.4% during the first quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock worth $174,000 after purchasing an additional 19,929 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Concrete Pumping in the 1st quarter worth $54,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Stock Performance

Shares of BBCP stock opened at $9.60 on Tuesday. The stock has a market capitalization of $483.74 million, a PE ratio of 68.57 and a beta of 0.86. Concrete Pumping Holdings, Inc. has a 1-year low of $5.55 and a 1-year high of $12.19. The business has a 50-day moving average of $10.59 and a 200 day moving average of $8.40. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61.

Concrete Pumping (NASDAQ:BBCP) last posted its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. As a group, sell-side analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

BBCP has been the subject of a number of recent research reports. Zacks Research lowered shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Robert W. Baird raised their price objective on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Texas Capital raised Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Insider Activity at Concrete Pumping

In other news, Director Brent M. Stevens sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the transaction, the director owned 597,155 shares in the company, valued at $6,359,700.75. This trade represents a 14.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the transaction, the chief financial officer owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. The trade was a 20.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 346,955 shares of company stock valued at $3,726,529 in the last three months. Corporate insiders own 28.20% of the company’s stock.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.