Smith-Midland (NASDAQ:SMID) Issues Earnings Results

Smith-Midland (NASDAQ:SMID) announced its earnings results on Tuesday. The company reported $0.25 earnings per share for the quarter, Zacks reports. The firm had revenue of $21.57 million for the quarter. Smith-Midland had a return on equity of 24.91% and a net margin of 13.37%.

Smith-Midland Stock Performance

Shares of NASDAQ SMID opened at $32.30 on Wednesday. The business’s 50-day moving average price is $31.35 and its two-hundred day moving average price is $33.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.40 and a quick ratio of 2.92. Smith-Midland has a one year low of $25.60 and a one year high of $43.66. The company has a market capitalization of $171.51 million, a P/E ratio of 13.74 and a beta of 1.73.

Institutional Trading of Smith-Midland

A number of institutional investors and hedge funds have recently made changes to their positions in SMID. Tower Research Capital LLC TRC grew 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 valued at $60,000 after buying an additional 1,487 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Smith-Midland by 75.5% in the 4th quarter. Wells Fargo & Company MN now owns 3,039 shares of the company’s stock valued at $110,000 after buying an additional 1,307 shares during the last quarter. Barclays PLC grew its holdings in Smith-Midland by 8.6% in the 4th quarter. Barclays PLC now owns 4,224 shares of the company’s stock valued at $154,000 after buying an additional 335 shares during the last quarter. Rhumbline Advisers grew its holdings in Smith-Midland by 9.6% in the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock valued at $133,000 after buying an additional 372 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Smith-Midland by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock valued at $162,000 after buying an additional 638 shares during the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SMID. Wall Street Zen downgraded Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

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.