Concrete Pumping (NASDAQ:BBCP) Shares Down 1.9% – Here’s Why

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)’s share price traded down 1.9% during trading on Friday. The company traded as low as $9.86 and last traded at $10.07. 90,598 shares were traded 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

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Texas Capital raised Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $12.00.

Concrete Pumping Price Performance

The firm has a market cap of $507.43 million, a price-to-earnings ratio of 62.94 and a beta of 0.90. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 1.56. The stock’s fifty day moving average price is $9.82 and its 200-day moving average price is $8.80.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $116.77 million for the quarter, compared to analysts’ expectations of $110.19 million. Concrete Pumping had a return on equity of 3.91% and a net margin of 2.45%. As a group, equities research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Concrete Pumping Announces Dividend

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

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds have recently modified their holdings of BBCP. Legal & General Group Plc purchased a new position in shares of Concrete Pumping in the second quarter valued at approximately $26,000. Vise Technologies Inc. grew its holdings in shares of Concrete Pumping by 18.0% in the third quarter. Vise Technologies Inc. now owns 14,578 shares of the company’s stock valued at $141,000 after purchasing an additional 2,225 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Concrete Pumping by 20.8% in the third quarter. State of Alaska Department of Revenue now owns 13,936 shares of the company’s stock valued at $134,000 after purchasing an additional 2,396 shares in the last quarter. Bard Associates Inc. acquired a new position in shares of Concrete Pumping in the second quarter valued at approximately $30,000. Finally, Hsbc Holdings PLC increased its stake in Concrete Pumping by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 49,586 shares of the company’s stock worth $597,000 after buying an additional 3,364 shares during the period. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Concrete Pumping Company Profile

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.