Smith-Midland (NASDAQ:SMID – Get Free Report) announced its quarterly earnings results on Friday. The company reported $0.26 earnings per share for the quarter, Zacks reports. The firm had revenue of $23.36 million for the quarter. Smith-Midland had a net margin of 11.36% and a return on equity of 19.87%.
Smith-Midland Stock Performance
NASDAQ:SMID traded up $0.46 during mid-day trading on Friday, hitting $28.21. The stock had a trading volume of 18,335 shares, compared to its average volume of 16,006. Smith-Midland has a 52 week low of $25.60 and a 52 week high of $43.66. The company has a 50 day simple moving average of $29.27 and a 200-day simple moving average of $31.50. The company has a current ratio of 3.11, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $149.71 million, a price-to-earnings ratio of 14.25 and a beta of 1.76.
Wall Street Analyst Weigh In
Several brokerages have issued reports on SMID. Wall Street Zen downgraded shares of Smith-Midland from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith-Midland in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of SMID. Barclays PLC increased its position in Smith-Midland by 8.6% during the fourth quarter. Barclays PLC now owns 4,224 shares of the company’s stock worth $154,000 after buying an additional 335 shares during the last quarter. Stifel Financial Corp acquired a new position in Smith-Midland in the 4th quarter valued at approximately $604,000. Wells Fargo & Company MN boosted its holdings in Smith-Midland by 75.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,039 shares of the company’s stock valued at $110,000 after purchasing an additional 1,307 shares in the last quarter. Jane Street Group LLC boosted its stake in Smith-Midland by 9.8% in the fourth quarter. Jane Street Group LLC now owns 6,530 shares of the company’s stock worth $237,000 after purchasing an additional 583 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Smith-Midland by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,345 shares of the company’s stock worth $1,466,000 after purchasing an additional 3,244 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.
About Smith-Midland
Smith-Midland Corporation (NASDAQ: SMID) is a Virginia‐based manufacturer specializing in precast and cast‐in‐place concrete products for use in residential, commercial and infrastructure applications. Headquartered in Midland, Virginia, the company operates a primary production facility where it designs, engineers and produces a wide array of concrete components under stringent quality controls. Smith‐Midland’s products are widely used by builders, contractors and government agencies across the United States.
The company’s Construction Products Group offers an extensive portfolio of engineered solutions for transportation and site development projects.
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