Smith-Midland (NASDAQ:SMID) Shares Down 3.2%

Shares of Smith-Midland Co. (NASDAQ:SMID) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $38.60 and last traded at $38.63. 10,655 shares changed hands during trading, a decline of 61% from the average session volume of 27,144 shares. The stock had previously closed at $39.91.

Smith-Midland Stock Performance

The stock’s 50-day moving average price is $41.36 and its 200-day moving average price is $34.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.99 and a current ratio of 2.31. The company has a market capitalization of $192.10 million, a price-to-earnings ratio of 332.03 and a beta of 1.20.

Institutional Investors Weigh In On Smith-Midland

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heritage Investors Management Corp raised its position in shares of Smith-Midland by 6.9% during the 3rd quarter. Heritage Investors Management Corp now owns 44,268 shares of the company’s stock worth $839,000 after purchasing an additional 2,870 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Smith-Midland by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,585 shares of the company’s stock worth $360,000 after purchasing an additional 1,066 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Smith-Midland during the 4th quarter worth approximately $335,000. Kestra Advisory Services LLC acquired a new position in shares of Smith-Midland during the 4th quarter worth approximately $275,000. Finally, Bank of New York Mellon Corp raised its holdings in Smith-Midland by 190.6% in the 1st quarter. Bank of New York Mellon Corp now owns 14,650 shares of the company’s stock valued at $259,000 after acquiring an additional 9,608 shares during the last quarter. 49.94% of the stock is currently owned by institutional investors and hedge funds.

About Smith-Midland

Smith-Midland Corporation, through its subsidiaries, invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems primarily for use in the construction, highway, utilities, and farming industries. It offers SlenderWall, a patented, lightweight, energy efficient concrete and steel exterior wall panel for use in building construction; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers for use on roadways to separate lanes of traffic in construction work zone or traffic control purposes; and Easi-Set precast building and Easi-Span expandable precast buildings for use in housing communications operations, traffic control systems, and mechanical and electrical stations.