Bank of New York Mellon Corp Boosts Stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Bank of New York Mellon Corp increased its holdings in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 12.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,341 shares of the company’s stock after purchasing an additional 12,855 shares during the quarter. Bank of New York Mellon Corp’s holdings in Concrete Pumping were worth $675,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Epoch Investment Partners Inc. purchased a new position in shares of Concrete Pumping during the first quarter worth $3,439,000. Empowered Funds LLC increased its stake in Concrete Pumping by 8.2% during the first quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after purchasing an additional 20,290 shares during the period. Park Avenue Securities LLC lifted its position in shares of Concrete Pumping by 100.0% during the second quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after purchasing an additional 59,107 shares in the last quarter. Aristides Capital LLC boosted its stake in shares of Concrete Pumping by 63.5% in the first quarter. Aristides Capital LLC now owns 88,052 shares of the company’s stock valued at $696,000 after purchasing an additional 34,207 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Concrete Pumping by 8.1% in the first quarter. Janney Montgomery Scott LLC now owns 59,500 shares of the company’s stock valued at $470,000 after purchasing an additional 4,459 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BBCP shares. UBS Group cut Concrete Pumping from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.50 to $6.25 in a research note on Friday, September 6th. Robert W. Baird decreased their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Stifel Nicolaus cut their price target on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. William Blair downgraded Concrete Pumping from an “outperform” rating to a “market perform” rating in a report on Friday, June 7th. Finally, DA Davidson cut their target price on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.55.

Concrete Pumping Price Performance

NASDAQ:BBCP opened at $5.94 on Monday. The firm has a market cap of $321.47 million, a price-to-earnings ratio of 19.16 and a beta of 1.11. Concrete Pumping Holdings, Inc. has a 12-month low of $5.05 and a 12-month high of $9.15. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average is $6.17 and its two-hundred day moving average is $6.69.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The firm had revenue of $109.62 million for the quarter, compared to analyst estimates of $126.10 million. Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. During the same quarter in the previous year, the company earned $0.17 earnings per share. Research analysts expect that Concrete Pumping Holdings, Inc. will post 0.27 EPS for the current year.

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.