Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Down 6.9% in October

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 606,300 shares, a drop of 6.9% from the October 15th total of 651,300 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily volume of 77,400 shares, the short-interest ratio is presently 7.8 days.

Insiders Place Their Bets

In other Concrete Pumping news, CEO Bruce F. Young sold 13,746 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $8.07, for a total transaction of $110,930.22. Following the sale, the chief executive officer now directly owns 2,275,692 shares of the company’s stock, valued at approximately $18,364,834.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.10% of the stock is owned by corporate insiders.

Institutional Trading of Concrete Pumping

A number of hedge funds have recently made changes to their positions in the company. Royce & Associates LP raised its stake in shares of Concrete Pumping by 0.6% during the first quarter. Royce & Associates LP now owns 1,948,855 shares of the company’s stock valued at $13,252,000 after purchasing an additional 11,600 shares during the period. Jennison Associates LLC raised its stake in shares of Concrete Pumping by 1.2% during the third quarter. Jennison Associates LLC now owns 1,822,825 shares of the company’s stock valued at $15,640,000 after purchasing an additional 22,290 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Concrete Pumping by 1.9% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,293,485 shares of the company’s stock valued at $8,796,000 after purchasing an additional 23,553 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Concrete Pumping by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 899,354 shares of the company’s stock valued at $7,222,000 after purchasing an additional 110,425 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Concrete Pumping by 2.4% during the first quarter. Geode Capital Management LLC now owns 498,506 shares of the company’s stock valued at $3,390,000 after purchasing an additional 11,755 shares during the period. Hedge funds and other institutional investors own 33.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BBCP. JPMorgan Chase & Co. cut shares of Concrete Pumping from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $8.50 in a research report on Thursday, October 19th. Robert W. Baird reissued a “neutral” rating and issued a $8.50 target price on shares of Concrete Pumping in a research report on Thursday, October 19th.

Concrete Pumping Trading Up 5.2 %

NASDAQ BBCP opened at $7.86 on Thursday. Concrete Pumping has a one year low of $5.63 and a one year high of $9.15. The company’s 50 day moving average price is $7.94 and its 200 day moving average price is $7.70. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 0.98. The firm has a market capitalization of $430.02 million, a price-to-earnings ratio of 15.12 and a beta of 1.10.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Concrete Pumping had a net margin of 7.08% and a return on equity of 10.34%. The firm had revenue of $120.67 million for the quarter, compared to analyst estimates of $115.22 million. On average, sell-side analysts predict that Concrete Pumping will post 0.55 EPS for the current year.

Concrete Pumping Company Profile

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.