Hillsdale Investment Management Inc. Acquires New Position in Concrete Pumping Holdings, Inc. $BBCP

Hillsdale Investment Management Inc. bought a new position in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 48,300 shares of the company’s stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BBCP. BNP Paribas Financial Markets raised its stake in shares of Concrete Pumping by 97.5% during the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after acquiring an additional 2,187 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Concrete Pumping during the 1st quarter valued at $54,000. Strs Ohio bought a new position in shares of Concrete Pumping during the 1st quarter valued at $62,000. Verition Fund Management LLC purchased a new position in Concrete Pumping in the 4th quarter worth $69,000. Finally, OakTrust Wealth Advisors LLC bought a new stake in Concrete Pumping in the fourth quarter worth $71,000. 34.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Iain Humphries sold 96,955 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer directly owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brent M. Stevens sold 100,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the sale, the director owned 597,155 shares of the company’s stock, valued at approximately $6,359,700.75. This represents a 14.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 346,955 shares of company stock valued at $3,726,529. Insiders own 28.20% of the company’s stock.

Analysts Set New Price Targets

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

Concrete Pumping Stock Down 1.5%

Shares of NASDAQ BBCP opened at $10.53 on Friday. The firm’s fifty day moving average is $9.72 and its 200 day moving average is $7.90. Concrete Pumping Holdings, Inc. has a 52 week low of $5.55 and a 52 week high of $12.19. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The company has a market cap of $530.61 million, a price-to-earnings ratio of 75.21 and a beta of 0.84.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. On average, equities research analysts expect that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

About Concrete Pumping

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.