JB Capital Partners LP Takes Position in Concrete Pumping Holdings, Inc. $BBCP

JB Capital Partners LP acquired a new stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 341,400 shares of the company’s stock, valued at approximately $4,113,870. Concrete Pumping makes up about 0.0% of JB Capital Partners LP’s investment portfolio, making the stock its 22nd largest position. JB Capital Partners LP owned 0.68% of Concrete Pumping as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after purchasing an additional 2,187 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Concrete Pumping during the first quarter valued at approximately $54,000. Strs Ohio acquired a new position in shares of Concrete Pumping during the 1st quarter valued at about $62,000. Verition Fund Management LLC acquired a new position in Concrete Pumping in the fourth quarter worth about $69,000. Finally, OakTrust Wealth Advisors LLC bought a new position in Concrete Pumping in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Stock Performance

BBCP stock traded down $0.31 during midday trading on Friday, reaching $9.12. 212,889 shares of the company were exchanged, compared to its average volume of 197,558. The business has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $8.58. The firm has a market capitalization of $459.56 million, a price-to-earnings ratio of 65.14 and a beta of 0.86. Concrete Pumping Holdings, Inc. has a one year low of $5.55 and a one year high of $12.19. 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 (NASDAQ:BBCP) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $106.80 million during 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%. Equities research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current year.

Insider Activity

In related news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer directly owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brent M. Stevens sold 100,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the transaction, the director directly owned 597,155 shares in the company, valued at approximately $6,359,700.75. This represents a 14.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 346,955 shares of company stock valued at $3,726,529 over the last 90 days. 28.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BBCP shares. Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Zacks Research cut shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Robert W. Baird upped their target price on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Concrete Pumping 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.