Diamond Hill Capital Management Inc. Sells 393,183 Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Diamond Hill Capital Management Inc. cut its position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 701,941 shares of the company’s stock after selling 393,183 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Concrete Pumping were worth $4,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Concrete Pumping during the fourth quarter valued at approximately $81,000. Keybank National Association OH increased its position in shares of Concrete Pumping by 14.6% during the fourth quarter. Keybank National Association OH now owns 29,085 shares of the company’s stock valued at $194,000 after purchasing an additional 3,705 shares during the period. Barclays PLC increased its position in shares of Concrete Pumping by 82.6% during the third quarter. Barclays PLC now owns 51,560 shares of the company’s stock valued at $299,000 after purchasing an additional 23,329 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Concrete Pumping during the third quarter valued at approximately $371,000. Finally, JPMorgan Chase & Co. increased its position in shares of Concrete Pumping by 128.5% during the third quarter. JPMorgan Chase & Co. now owns 73,831 shares of the company’s stock valued at $427,000 after purchasing an additional 41,524 shares during the period. 34.20% of the stock is currently owned by institutional investors.

Concrete Pumping Price Performance

Shares of BBCP stock opened at $5.64 on Friday. The stock’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $6.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89. The firm has a market cap of $298.94 million, a price-to-earnings ratio of 21.69 and a beta of 1.25. Concrete Pumping Holdings, Inc. has a one year low of $4.78 and a one year high of $9.68.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. On average, analysts expect that Concrete Pumping Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

Concrete Pumping Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were paid a $1.00 dividend. The ex-dividend date was Friday, January 24th.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. DA Davidson lowered their price objective on Concrete Pumping from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price target on Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Concrete Pumping presently has an average rating of “Hold” and a consensus target price of $7.44.

Insiders Place Their Bets

In other Concrete Pumping news, CEO Bruce F. Young acquired 49,507 shares of Concrete Pumping stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $5.19 per share, with a total value of $256,941.33. Following the completion of the purchase, the chief executive officer now owns 1,722,622 shares in the company, valued at $8,940,408.18. This trade represents a 2.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.