Rice Hall James & Associates LLC Invests $1.56 Million in Smith-Midland Corp. $SMID

Rice Hall James & Associates LLC purchased a new stake in Smith-Midland Corp. (NASDAQ:SMID) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,979 shares of the company’s stock, valued at approximately $1,565,000. Rice Hall James & Associates LLC owned 1.02% of Smith-Midland at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Thompson Davis & CO. Inc. lifted its stake in shares of Smith-Midland by 0.4% in the first quarter. Thompson Davis & CO. Inc. now owns 1,841,775 shares of the company’s stock valued at $59,913,000 after buying an additional 7,448 shares during the period. Needham Investment Management LLC lifted its position in shares of Smith-Midland by 0.9% in the 4th quarter. Needham Investment Management LLC now owns 225,000 shares of the company’s stock worth $8,176,000 after acquiring an additional 2,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Smith-Midland by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 224,345 shares of the company’s stock worth $8,278,000 after purchasing an additional 2,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Smith-Midland by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 84,965 shares of the company’s stock worth $3,088,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Smith-Midland by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 44,729 shares of the company’s stock valued at $1,455,000 after purchasing an additional 4,384 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

Analyst Ratings Changes

SMID has been the subject of several research reports. Wall Street Zen cut Smith-Midland from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Smith-Midland Trading Down 1.2%

Shares of SMID opened at $28.21 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The stock has a market cap of $149.80 million, a PE ratio of 19.46 and a beta of 1.76. Smith-Midland Corp. has a 1 year low of $25.60 and a 1 year high of $43.62. The stock has a 50 day simple moving average of $29.18 and a 200-day simple moving average of $31.36.

Smith-Midland (NASDAQ:SMID) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.26 EPS for the quarter. Smith-Midland had a return on equity of 14.25% and a net margin of 8.59%.The business had revenue of $23.36 million for the quarter.

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.