Mill Road Capital Management LLC Increases Position in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Mill Road Capital Management LLC raised its position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Free Report) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,070,405 shares of the company's stock after purchasing an additional 526,379 shares during the period. Concrete Pumping accounts for approximately 2.9% of Mill Road Capital Management LLC's portfolio, making the stock its 14th largest holding. Mill Road Capital Management LLC owned 2.00% of Concrete Pumping worth $6,198,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in Concrete Pumping in the 2nd quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC bought a new position in Concrete Pumping in the 3rd quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Concrete Pumping during the 2nd quarter worth $42,000. Hsbc Holdings PLC lifted its holdings in shares of Concrete Pumping by 39.1% during the 2nd quarter. Hsbc Holdings PLC now owns 31,567 shares of the company's stock worth $195,000 after acquiring an additional 8,866 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Concrete Pumping by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 38,239 shares of the company's stock worth $230,000 after acquiring an additional 1,623 shares during the last quarter. Hedge funds and other institutional investors own 34.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BBCP. Robert W. Baird dropped their price objective on shares of Concrete Pumping from $7.50 to $6.50 and set a "neutral" rating for the company in a report on Thursday, September 5th. UBS Group downgraded shares of Concrete Pumping from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $10.50 to $6.25 in a research note on Friday, September 6th. Finally, DA Davidson lowered their price target on shares of Concrete Pumping from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Concrete Pumping currently has an average rating of "Hold" and a consensus target price of $7.31.

Concrete Pumping Trading Down 0.4 %

Shares of BBCP stock traded down $0.03 during mid-day trading on Wednesday, reaching $7.18. The stock had a trading volume of 55,781 shares, compared to its average volume of 95,106. The stock's 50-day moving average price is $5.85 and its two-hundred day moving average price is $6.16. Concrete Pumping Holdings, Inc. has a 52-week low of $5.05 and a 52-week high of $8.48. The firm has a market capitalization of $384.35 million, a PE ratio of 27.73 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. The company had revenue of $109.62 million for the quarter, compared to analysts' expectations of $126.10 million. During the same quarter in the prior year, the firm earned $0.17 EPS. Equities analysts expect that Concrete Pumping Holdings, Inc. will post 0.27 earnings per share for the current fiscal 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.