Two Sigma Investments LP Sells 14,886 Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Two Sigma Investments LP cut its stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,287 shares of the company’s stock after selling 14,886 shares during the quarter. Two Sigma Investments LP owned 0.17% of Concrete Pumping worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BBCP. Seven Six Capital Management LLC bought a new stake in Concrete Pumping during the fourth quarter valued at approximately $3,500,000. Royce & Associates LP lifted its holdings in shares of 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 acquiring an additional 176,490 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Concrete Pumping in the 4th quarter worth approximately $1,170,000. Raiffeisen Bank International AG bought a new stake in shares of Concrete Pumping in the 4th quarter worth approximately $995,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Concrete Pumping by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,941 shares of the company’s stock worth $11,315,000 after acquiring an additional 56,048 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. DA Davidson lowered their price objective 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. Robert W. Baird lowered their price objective on shares of Concrete Pumping from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday.

Concrete Pumping Stock Down 14.4%

Shares of NASDAQ BBCP opened at $6.07 on Monday. 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 firm’s fifty day moving average is $6.41 and its 200 day moving average is $6.75. The company has a market cap of $322.02 million, a price-to-earnings ratio of 23.35 and a beta of 1.13.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Thursday, June 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. The firm had revenue of $93.96 million during the quarter, compared to analysts’ expectations 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 year.

Concrete Pumping announced that its board has authorized a share buyback program on Thursday, June 5th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Concrete Pumping

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 purchased at an average cost of $5.19 per share, with a total value of $256,941.33. Following 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 represents a 2.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.60% of the company’s stock.

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.