Smith-Midland (NASDAQ:SMID) Posts Earnings Results

Smith-Midland (NASDAQ:SMID) released its earnings results on Friday. The company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. Smith-Midland had a net margin of 11.36% and a return on equity of 19.87%. The firm had revenue of $23.36 million during the quarter.

Smith-Midland Stock Up 1.7%

Shares of SMID traded up $0.46 on Friday, hitting $28.21. 18,335 shares of the stock traded hands, compared to its average volume of 10,572. The company has a market capitalization of $149.80 million, a PE ratio of 14.25 and a beta of 1.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 3.11. The business has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $31.53. Smith-Midland has a one year low of $25.60 and a one year high of $43.66.

Institutional Trading of Smith-Midland

Several institutional investors have recently added to or reduced their stakes in SMID. Rhumbline Advisers raised its stake in shares of Smith-Midland by 9.6% in the first quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock worth $133,000 after purchasing an additional 372 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Smith-Midland by 495.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after buying an additional 1,487 shares in the last quarter. JPMorgan Chase & Co. raised its position in Smith-Midland by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock worth $162,000 after buying an additional 638 shares during the last quarter. Vanguard Group Inc. raised its position in Smith-Midland by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 224,345 shares of the company’s stock worth $8,278,000 after buying an additional 2,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Smith-Midland by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company’s stock worth $1,368,000 after buying an additional 267 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SMID shares. Wall Street Zen lowered Smith-Midland from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.