Diamond Hill Capital Management LLC Investment Advisor Invests $5.90 Million in Concrete Pumping Holdings, Inc. $BBCP

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 489,704 shares of the company’s stock, valued at approximately $5,901,000.

A number of other hedge funds also recently added to or reduced their stakes in BBCP. Royal Bank of Canada lifted its position in Concrete Pumping by 5.7% in the 1st quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock valued at $878,000 after acquiring an additional 8,620 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Concrete Pumping in the 1st quarter worth $78,000. Empowered Funds LLC increased its holdings in shares of Concrete Pumping by 3.7% in the 1st quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock worth $1,757,000 after purchasing an additional 11,605 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Concrete Pumping by 166.4% in 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 last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Concrete Pumping in the first quarter worth $54,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Concrete Pumping Stock Performance

NASDAQ BBCP opened at $9.60 on Tuesday. The firm has a market cap of $483.74 million, a price-to-earnings ratio of 68.57 and a beta of 0.86. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. Concrete Pumping Holdings, Inc. has a twelve month low of $5.55 and a twelve month high of $12.19. The business has a 50-day moving average price of $10.59 and a 200-day moving average price of $8.40.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%.The business had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $96.71 million. As a group, equities research analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Concrete Pumping

In other Concrete Pumping news, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the sale, the director owned 497,155 shares of the company’s stock, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $4,076,591.48. The trade was a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 346,955 shares of company stock valued at $3,726,529 in the last ninety days. Corporate insiders own 28.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BBCP shares. Robert W. Baird lifted their price target on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th. 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. Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Zacks Research downgraded shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Texas Capital raised Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.25.

About Concrete Pumping

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.