Smith-Midland (NASDAQ:SMID) Announces Earnings Results

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

Smith-Midland Trading Down 0.7%

NASDAQ SMID traded down $0.25 during trading hours on Friday, hitting $37.90. 18,683 shares of the company’s stock were exchanged, compared to its average volume of 12,279. The business’s 50 day moving average is $37.88 and its 200-day moving average is $35.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.44 and a current ratio of 2.88. Smith-Midland has a 12-month low of $25.13 and a 12-month high of $51.96. The firm has a market capitalization of $201.06 million, a P/E ratio of 16.70 and a beta of 1.76.

Insider Activity

In other news, Director James Russell Bruner sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.06, for a total transaction of $234,360.00. Following the completion of the transaction, the director 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 SEC, which is available through this link. 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 transaction, the insider 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,000 shares of company stock valued at $853,081 in the last 90 days. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Smith-Midland

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of Smith-Midland by 495.7% during 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 period. Rhumbline Advisers boosted its holdings in Smith-Midland by 9.6% in the first quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock valued at $133,000 after acquiring an additional 372 shares during the last quarter. JPMorgan Chase & Co. grew its position in Smith-Midland by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock valued at $162,000 after acquiring an additional 638 shares during the period. Lazard Asset Management LLC increased its stake in Smith-Midland by 6.0% during the third quarter. Lazard Asset Management LLC now owns 12,631 shares of the company’s stock worth $466,000 after acquiring an additional 715 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

Wall Street Analyst Weigh In

SMID has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith-Midland in a research note on Thursday. Wall Street Zen cut shares of Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock 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.