Smith-Midland (NASDAQ:SMID) Announces Quarterly Earnings Results

Smith-Midland (NASDAQ:SMID) announced its earnings results on Friday. The company reported $0.26 EPS for the quarter, Zacks reports. The business had revenue of $23.36 million during 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 on Friday, hitting $28.21. 18,335 shares of the company’s stock were exchanged, compared to its average volume of 10,572. The firm has a market cap of $149.80 million, a price-to-earnings ratio of 14.25 and a beta of 1.76. The firm’s 50-day moving average price is $29.30 and its two-hundred day moving average price is $31.53. Smith-Midland has a fifty-two week low of $25.60 and a fifty-two week high of $43.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.11 and a quick ratio of 2.68.

Institutional Trading of Smith-Midland

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Smith-Midland by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company’s stock worth $1,368,000 after acquiring an additional 267 shares during the period. Barclays PLC lifted its holdings in Smith-Midland by 8.6% in the fourth quarter. Barclays PLC now owns 4,224 shares of the company’s stock valued at $154,000 after acquiring an additional 335 shares during the period. Rhumbline Advisers boosted its position in shares of 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. Jane Street Group LLC boosted its position in shares of Smith-Midland by 9.8% during the 4th 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, JPMorgan Chase & Co. grew its stake in shares of Smith-Midland by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock worth $162,000 after purchasing an additional 638 shares during the period. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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