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

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

Smith-Midland Price Performance

Smith-Midland stock traded up $3.55 during midday trading on Tuesday, hitting $32.30. 14,657 shares of the company’s stock were exchanged, compared to its average volume of 8,244. Smith-Midland has a 52-week low of $25.60 and a 52-week high of $43.66. The stock has a 50-day moving average price of $31.35 and a two-hundred day moving average price of $33.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.40. The company has a market cap of $171.51 million, a P/E ratio of 13.74 and a beta of 1.73.

Institutional Investors Weigh In On Smith-Midland

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Smith-Midland by 8.6% during the fourth quarter. Barclays PLC now owns 4,224 shares of the company’s stock worth $154,000 after purchasing an additional 335 shares during the last quarter. Stifel Financial Corp bought a new stake in Smith-Midland during the fourth quarter worth about $604,000. Wells Fargo & Company MN lifted its stake in Smith-Midland by 75.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,039 shares of the company’s stock worth $110,000 after purchasing an additional 1,307 shares during the last quarter. Jane Street Group LLC lifted its stake in Smith-Midland by 9.8% during the fourth quarter. Jane Street Group LLC now owns 6,530 shares of the company’s stock worth $237,000 after purchasing an additional 583 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Smith-Midland by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 40,345 shares of the company’s stock worth $1,466,000 after purchasing an additional 3,244 shares during the last quarter. Institutional investors own 49.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SMID shares. Wall Street Zen cut 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 research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Smith-Midland

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.