Hoak Public Equities increases stake in Meadow Valley with purchase of 68,624 shares

By Lisa Kerner

Charlotte, N.C., March 6 - Hoak Public Equities, LP purchased 68,624 shares of Meadow Valley Corp. stock between Jan. 30 and Feb., 27 priced from $11.74 to $12.44, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor and its affiliates bought the shares believing them to be undervalued. Hoak Public Equities stated in the filing that it intends to monitor and evaluate Meadow Vallley's business, its financial performance and its governance.

Hoak beneficially owns 273,924 shares, or 5.48%, of the Phoenix construction materials company.

Meadow Valley (Nasdaq: MVCO) closed at $12.77 on March 5.

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