Here’s Why Concrete Pumping Holdings (BBCP) Declined in Q4
Diamond Hill Capital, an investment management company, released its “Small Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 6.98% net of fees, outperforming the benchmark Russell 2000 Index, which returned 6.23%. Strength in health care, consumer discretionary, and materials holdings contributed to the fund’s outperformance in the quarter while holdings in energy and information technology detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Capital highlighted stocks like Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in its Q4 2022 investor letter. Headquartered in Thornton, Colorado, Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) offers concrete pumping and waste management services. On January 26, 2023, Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) stock closed at $8.03 per share. One-month return of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was 37.26%, and its shares gained 0.00% of their value over the last 52 weeks. Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has a market capitalization of $451.496 million.
Diamond Hill Capital made the following comment about Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in its Q4 2022 investor letter:
"Other bottom contributors included Allegiant Travel, Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) and WNS Holdings. Shares of concrete pumping service provider Concrete Pumping Holdings were down on little news during the quarter and were likely pressured by similar ongoing concerns about the macroeconomic outlook."
Dmitry Kalinovsky/Shutterstock.com
Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) at the end of the third quarter, which was 12 in the previous quarter.
We discussed Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
