Smith-Midland (NASDAQ:SMID) Posts Earnings Results

Smith-Midland (NASDAQ:SMID) posted its quarterly earnings data on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $21.50 million for the quarter. Smith-Midland had a net margin of 13.24% and a return on equity of 27.32%.

Smith-Midland Trading Down 0.7%

Shares of NASDAQ:SMID traded down $0.25 during trading hours on Friday, hitting $37.90. 18,683 shares of the company’s stock traded hands, compared to its average volume of 12,279. The firm has a market capitalization of $201.06 million, a P/E ratio of 16.70 and a beta of 1.76. Smith-Midland has a 1 year low of $25.13 and a 1 year high of $51.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.88 and a quick ratio of 2.44. The business has a fifty day moving average price of $37.88 and a 200-day moving average price of $35.81.

Insider Activity

In other news, Director James Russell Bruner sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $39.06, for a total value of $234,360.00. Following the sale, the director directly owned 6,594 shares of the company’s stock, valued at $257,561.64. This represents a 47.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rodney I. Smith sold 13,656 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $41.36, for a total transaction of $564,812.16. Following the sale, the insider directly owned 534,499 shares in the company, valued at approximately $22,106,878.64. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 21,000 shares of company stock valued at $853,081. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in Smith-Midland by 9.6% during the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock worth $133,000 after purchasing an additional 372 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Smith-Midland by 495.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after acquiring an additional 1,487 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Smith-Midland by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock valued at $162,000 after purchasing an additional 638 shares during the period. Vanguard Group Inc. grew its stake in Smith-Midland by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 224,345 shares of the company’s stock valued at $8,278,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Smith-Midland by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company’s stock worth $1,368,000 after purchasing an additional 267 shares in 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 equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a report on Thursday. Wall Street Zen lowered Smith-Midland from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Smith-Midland currently has an average rating of “Hold”.

About Smith-Midland

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.