Aristides Capital LLC Raises Position in Concrete Pumping Holdings, Inc. $BBCP

Aristides Capital LLC grew its holdings in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 89.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,473 shares of the company’s stock after acquiring an additional 89,081 shares during the period. Aristides Capital LLC owned about 0.37% of Concrete Pumping worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Concrete Pumping by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock valued at $14,869,000 after purchasing an additional 81,318 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Concrete Pumping in the 1st quarter worth approximately $345,000. Private Advisor Group LLC bought a new stake in Concrete Pumping during the 1st quarter worth approximately $272,000. North Star Investment Management Corp. bought a new position in shares of Concrete Pumping in the first quarter worth approximately $885,000. Finally, Hsbc Holdings PLC increased its stake in shares of Concrete Pumping by 12.8% in the fourth quarter. Hsbc Holdings PLC now owns 51,370 shares of the company’s stock worth $347,000 after purchasing an additional 5,840 shares in the last quarter. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Concrete Pumping news, Director Brent M. Stevens sold 97,700 shares of Concrete Pumping stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the completion of the transaction, the director owned 497,155 shares in the company, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.79, for a total value of $1,046,144.45. Following the sale, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 346,955 shares of company stock valued at $3,726,529. Corporate insiders own 28.20% of the company’s stock.

Concrete Pumping Price Performance

Concrete Pumping stock opened at $10.92 on Friday. The stock has a market cap of $550.26 million, a price-to-earnings ratio of 78.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. Concrete Pumping Holdings, Inc. has a 1 year low of $5.55 and a 1 year high of $12.19. The firm has a 50-day moving average of $9.98 and a two-hundred day moving average of $8.01.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. On average, research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BBCP. Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.25.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.