Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Update

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 596,200 shares, a growth of 23.3% from the February 28th total of 483,500 shares. Based on an average trading volume of 197,500 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.7% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson lowered their price target on shares of Concrete Pumping from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird cut their price objective on shares of Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.44.

Insider Transactions at Concrete Pumping

In related news, CEO Bruce F. Young bought 49,507 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $5.19 per share, for a total transaction of $256,941.33. Following the purchase, the chief executive officer now directly owns 1,722,622 shares of the company’s stock, valued at approximately $8,940,408.18. The trade was a 2.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds have recently modified their holdings of BBCP. Hotchkis & Wiley Capital Management LLC purchased a new position in Concrete Pumping during the third quarter valued at approximately $2,933,000. Mill Road Capital Management LLC grew its position in Concrete Pumping by 96.8% in the 3rd quarter. Mill Road Capital Management LLC now owns 1,070,405 shares of the company’s stock worth $6,198,000 after purchasing an additional 526,379 shares during the last quarter. Barclays PLC increased its stake in Concrete Pumping by 82.6% during the third quarter. Barclays PLC now owns 51,560 shares of the company’s stock valued at $299,000 after acquiring an additional 23,329 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Concrete Pumping by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 564,751 shares of the company’s stock worth $3,270,000 after acquiring an additional 6,025 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Concrete Pumping by 128.5% during the third quarter. JPMorgan Chase & Co. now owns 73,831 shares of the company’s stock worth $427,000 after acquiring an additional 41,524 shares in the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Price Performance

BBCP opened at $5.64 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 1.99 and a debt-to-equity ratio of 1.16. Concrete Pumping has a 52-week low of $4.78 and a 52-week high of $9.68. The company has a market cap of $299.21 million, a P/E ratio of 21.69 and a beta of 1.25. The company has a 50 day moving average of $6.76 and a two-hundred day moving average of $6.50.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results on Wednesday, January 8th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. On average, analysts expect that Concrete Pumping will post 0.43 earnings per share for the current year.

Concrete Pumping Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were issued a $1.00 dividend. The ex-dividend date was Friday, January 24th.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.