Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Expands By 23.3%

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

Insider Buying and Selling at Concrete Pumping

In other news, CEO Bruce F. Young acquired 49,507 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $5.19 per share, with a total value of $256,941.33. Following the completion of the transaction, the chief executive officer now directly owns 1,722,622 shares of the company’s stock, valued at $8,940,408.18. This trade represents a 2.96 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

Several institutional investors and hedge funds have recently modified their holdings of BBCP. Cubist Systematic Strategies LLC purchased a new stake in Concrete Pumping in the fourth quarter worth $55,000. O Shaughnessy Asset Management LLC purchased a new stake in Concrete Pumping in the fourth quarter worth about $75,000. MetLife Investment Management LLC increased its stake in shares of Concrete Pumping by 54.0% during the fourth quarter. MetLife Investment Management LLC now owns 11,202 shares of the company’s stock valued at $75,000 after purchasing an additional 3,928 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Concrete Pumping in the 4th quarter worth approximately $81,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Concrete Pumping by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock valued at $93,000 after acquiring an additional 3,042 shares in the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Trading Up 3.3 %

Shares of BBCP opened at $5.64 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89. The firm’s 50 day simple moving average is $6.76 and its 200 day simple moving average is $6.50. Concrete Pumping has a 1-year low of $4.78 and a 1-year high of $9.68. The company has a market capitalization of $299.21 million, a P/E ratio of 21.69 and a beta of 1.25.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. Sell-side analysts forecast that Concrete Pumping will post 0.43 earnings per share for the current fiscal year.

Concrete Pumping Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 24th.

Wall Street Analyst Weigh In

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

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.