Here’s Why Concrete Pumping Holdings (BBCP) Fell in Q4
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q4 2023, the strategy returned 15.49% compared to 14.03% for the Russell 2000 Index. The relative outperformance in Q4 came from the strong performance of Financials and consumer discretionary holdings while industrials and healthcare holdings detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund featured stocks such as Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in the fourth quarter 2023 investor letter. Headquartered in Thornton, Colorado, Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) offers concrete pumping and waste management services. On February 5, 2024, Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) stock closed at $7.70 per share. One-month return of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was -3.27%, and its shares lost 5.98% of their value over the last 52 weeks. Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has a market capitalization of $413.857 million.
Diamond Hill Small Cap Fund stated the following regarding Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in its fourth quarter 2023 investor letter:
"Other bottom contributors included Concrete Pumping Holdings, Inc. (NASDAQ:BBCP), Energy Recovery and Allient. Shares of Concrete Pumping, the largest concrete pumping provider in the US and UK, declined on relatively little news during a quarter when most industrials rose."
A construction site featuring a large concrete foundation poured by the cement manufacturing company.
Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) at the end of third quarter which was 10 in the previous quarter.
We discussed Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in another article and shared Madison Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
