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

Smith-Midland (NASDAQ:SMID) issued its earnings results on Friday. The company reported $0.26 earnings per share for the quarter, Zacks reports. Smith-Midland had a net margin of 11.36% and a return on equity of 19.87%. The company had revenue of $23.36 million during the quarter.

Smith-Midland Stock Performance

Shares of NASDAQ SMID opened at $28.21 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 3.11. The company has a market cap of $149.80 million, a P/E ratio of 19.46 and a beta of 1.76. The firm’s fifty day moving average is $29.27 and its two-hundred day moving average is $31.50. Smith-Midland has a 52-week low of $25.60 and a 52-week high of $43.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMID. Tower Research Capital LLC TRC increased its holdings in shares of Smith-Midland by 495.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after purchasing an additional 1,487 shares during the last quarter. Wells Fargo & Company MN boosted 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 valued at $110,000 after buying an additional 1,307 shares during the last quarter. Rhumbline Advisers boosted its stake in Smith-Midland by 9.6% during the first 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. Barclays PLC grew its holdings in Smith-Midland by 8.6% during 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Smith-Midland by 17.0% during 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 in the last quarter. Institutional investors own 49.94% of the company’s stock.

Analyst Upgrades and Downgrades

SMID has been the topic of a number of recent analyst reports. Wall Street Zen cut Smith-Midland from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith-Midland in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus 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.