Smith-Midland (NASDAQ:SMID) Stock Price Up 3.4% – Here’s Why

Smith-Midland Corp. (NASDAQ:SMID) shares shot up 3.4% on Wednesday . The stock traded as high as $30.43 and last traded at $30.11. Approximately 11,934 shares were traded during trading, a decline of 34% from the average daily volume of 17,985 shares. The stock had previously closed at $29.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SMID shares. 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 restated 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, Smith-Midland has a consensus rating of “Hold”.

Smith-Midland Price Performance

The firm has a market capitalization of $160.79 million, a PE ratio of 15.29 and a beta of 1.72. The company has a 50-day moving average price of $29.98 and a 200-day moving average price of $32.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.11 and a quick ratio of 2.68.

Smith-Midland (NASDAQ:SMID) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.25 earnings per share (EPS) for the quarter. Smith-Midland had a net margin of 11.36% and a return on equity of 19.87%. The business had revenue of $21.57 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp acquired a new stake in shares of Smith-Midland in the fourth quarter worth $604,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Smith-Midland by 0.4% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,841,775 shares of the company’s stock valued at $59,913,000 after acquiring an additional 7,448 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Smith-Midland by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 44,729 shares of the company’s stock worth $1,455,000 after purchasing an additional 4,384 shares during the period. Rice Hall James & Associates LLC increased its holdings in Smith-Midland by 8.8% in the 4th quarter. Rice Hall James & Associates LLC now owns 50,590 shares of the company’s stock valued at $1,838,000 after purchasing an additional 4,099 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 2,800 shares in the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Smith-Midland Company Profile

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.