Allspring Global Investments Holdings LLC Purchases New Position in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,465 shares of the company's stock, valued at approximately $234,000. Allspring Global Investments Holdings LLC owned 0.08% of Concrete Pumping as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in Concrete Pumping in the 4th quarter valued at $55,000. O Shaughnessy Asset Management LLC bought a new position in shares of Concrete Pumping during the 4th quarter worth $75,000. MetLife Investment Management LLC grew its position 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. Wells Fargo & Company MN grew its position in shares of Concrete Pumping by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 13,968 shares of the company's stock worth $93,000 after buying an additional 3,042 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Concrete Pumping by 6.5% during the 4th quarter. Marshall Wace LLP now owns 24,993 shares of the company's stock worth $166,000 after buying an additional 1,529 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BBCP shares. Robert W. Baird dropped their price target on Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. DA Davidson set a $8.00 price objective on Concrete Pumping and gave the company a "buy" rating in a research report on Monday, June 9th.

Concrete Pumping Stock Down 1.0%

NASDAQ BBCP traded down $0.07 during trading on Friday, hitting $6.88. The company's stock had a trading volume of 70,474 shares, compared to its average volume of 134,646. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.79 and a quick ratio of 1.68. The company has a market cap of $357.97 million, a PE ratio of 31.27 and a beta of 1.07. The business's 50 day simple moving average is $6.61 and its 200-day simple moving average is $6.64. Concrete Pumping Holdings, Inc. has a fifty-two week low of $4.78 and a fifty-two week high of $9.68.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $93.96 million during the quarter, compared to analyst estimates of $99.02 million. Concrete Pumping had a return on equity of 5.33% and a net margin of 3.57%. On average, equities analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Concrete Pumping declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 5th that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.