Millennium Management LLC cut its holdings in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) by 68.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,088 shares of the company's stock after selling 42,194 shares during the period. Millennium Management LLC's holdings in Concrete Pumping were worth $127,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in BBCP. Royce & Associates LP lifted its stake in Concrete Pumping by 13.9% in the 4th quarter. Royce & Associates LP now owns 1,448,577 shares of the company's stock worth $9,648,000 after purchasing an additional 176,490 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Concrete Pumping during the 4th quarter valued at about $1,170,000. Dimensional Fund Advisors LP lifted its position in Concrete Pumping by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,941 shares of the company's stock valued at $11,315,000 after acquiring an additional 56,048 shares during the period. JB Capital Partners LP raised its holdings in Concrete Pumping by 17.0% in the fourth quarter. JB Capital Partners LP now owns 282,100 shares of the company's stock worth $1,879,000 after buying an additional 41,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Concrete Pumping by 19.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 240,933 shares of the company's stock valued at $1,605,000 after purchasing an additional 38,705 shares during the last quarter. 34.20% of the stock is owned by institutional investors.
Concrete Pumping Trading Down 2.6%
NASDAQ:BBCP opened at $5.96 on Friday. The company has a market capitalization of $316.18 million, a PE ratio of 22.92 and a beta of 1.13. 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 Holdings, Inc. has a 52-week low of $4.78 and a 52-week high of $9.68. The stock has a fifty day simple moving average of $6.48 and a 200-day simple moving average of $6.73.
Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its 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). Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. The firm had revenue of $93.96 million during the quarter, compared to analyst estimates of $99.02 million. On average, equities research analysts expect that Concrete Pumping Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.
Concrete Pumping announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 5th that allows the company to buyback $15.00 million in shares. This buyback authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages recently weighed in on BBCP. Robert W. Baird dropped their target price on shares of Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. DA Davidson set a $8.00 price objective on shares of Concrete Pumping and gave the company a "buy" rating in a research note on Monday, June 9th.
Get Our Latest Research Report on BBCP
Concrete Pumping Company Profile
(
Free Report)
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.
Further Reading
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