Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Large Increase in Short Interest

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 daily volume of 197,500 shares, the short-interest ratio is currently 3.0 days. Approximately 2.7% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBCP. Robert W. Baird cut their price target on Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. DA Davidson reduced their price target on shares of Concrete Pumping from $9.50 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Concrete Pumping presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Concrete Pumping Trading Up 0.7 %

Shares of NASDAQ:BBCP opened at $5.68 on Thursday. 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 company’s 50-day moving average price is $6.70 and its two-hundred day moving average price is $6.50. The stock has a market capitalization of $301.33 million, a PE ratio of 21.85 and a beta of 1.25. Concrete Pumping has a one year low of $4.78 and a one year high of $9.68.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Wednesday, January 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that Concrete Pumping will post 0.43 EPS for the current fiscal year.

Concrete Pumping Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 24th.

Insiders Place Their Bets

In other Concrete Pumping news, CEO Bruce F. Young bought 49,507 shares of Concrete Pumping stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $5.19 per share, with a total value of $256,941.33. Following the purchase, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Concrete Pumping

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

About Concrete Pumping

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.