Concrete Pumping (NASDAQ:BBCP) Stock Price Down 1.9% - Here's Why

Key Points

• Concrete Pumping shares fell 1.9% to $10.07, with trading volume 16% below its average; the article did not identify a specific trigger for the decline.
• The company’s latest quarter beat estimates, reporting EPS of $0.09 versus $0.08 expected and revenue of $116.77 million versus $110.19 million expected.
• Analysts have a consensus Buy rating and an average $12 price target. The company’s quarterly dividend annualizes to $0.52 per share, a 5.2% yield, though its payout ratio is 325%.

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report)'s share price fell 1.9% on Friday. The stock traded as low as $9.86 and last traded at $10.07. Approximately 90,598 shares changed hands during trading, a decline of 16% from the average daily volume of 108,444 shares. The stock had previously closed at $10.27.

Analyst Ratings Changes

BBCP has been the topic of a number of analyst reports. Weiss Ratings raised Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 14th. Texas Capital raised Concrete Pumping to a "strong-buy" rating in a report on Tuesday, July 21st. Zacks Research upgraded Concrete Pumping from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 21st. Finally, Wall Street Zen lowered Concrete Pumping from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $12.00.

Concrete Pumping Stock Performance

The company's fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $8.80. The company has a market capitalization of $507.43 million, a price-to-earnings ratio of 62.94 and a beta of 0.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.60 and a current ratio of 1.71.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Concrete Pumping had a net margin of 2.45% and a return on equity of 3.91%. The business had revenue of $116.77 million for the quarter, compared to analyst estimates of $110.19 million. Equities research analysts predict that Concrete Pumping Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Concrete Pumping Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, September 18th. Concrete Pumping's payout ratio is currently 325.00%.

Institutional Trading of Concrete Pumping

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Concrete Pumping by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company's stock worth $14,869,000 after acquiring an additional 81,318 shares in the last quarter. BlackRock Inc. acquired a new position in Concrete Pumping in the second quarter worth $16,061,000. Royce & Associates LP increased its stake in Concrete Pumping by 1.3% during the third quarter. Royce & Associates LP now owns 760,202 shares of the company's stock valued at $7,366,000 after purchasing an additional 10,000 shares during the last quarter. Seven Six Capital Management LLC increased its stake in Concrete Pumping by 9.6% during the first quarter. Seven Six Capital Management LLC now owns 529,981 shares of the company's stock valued at $3,784,000 after purchasing an additional 46,512 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Concrete Pumping during the second quarter valued at $5,901,000. Institutional investors and hedge funds own 34.20% of the company's stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc. provides concrete pumping and related services through its Brundage-Bone, Camfaud and Eco-Pan businesses. Its concrete pumping operations serve construction projects by transporting and placing concrete using equipment such as boom pumps, line pumps and truck-mounted conveyors. The company serves customers in the United States and the United Kingdom. Its Eco-Pan business provides concrete washout services, collecting and managing concrete waste at construction sites and helping customers meet environmental and site-safety requirements.

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