Bard Associates Inc. Buys New Stake in Smith-Midland Corp. $SMID

Key Points

• Bard Associates acquired 79,875 Smith-Midland shares worth approximately $2.3 million, giving it a 1.51% stake. Institutional investors collectively own 49.94% of the company.
• Analyst sentiment remains cautious: Weiss Ratings reiterated a “hold” rating, while Wall Street Zen downgraded the stock from “buy” to “hold.”
• Smith-Midland reported quarterly earnings of $0.26 per share on $23.36 million in revenue. Shares opened at $27.69, near the lower end of their 52-week range of $25.60 to $43.62.

Bard Associates Inc. acquired a new stake in shares of Smith-Midland Corp. (NASDAQ:SMID - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 79,875 shares of the company's stock, valued at approximately $2,316,000. Bard Associates Inc. owned approximately 1.51% of Smith-Midland at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Rice Hall James & Associates LLC bought a new stake in shares of Smith-Midland during the second quarter worth $1,565,000. Needham Investment Management LLC raised its holdings in shares of Smith-Midland by 0.9% in the fourth quarter. Needham Investment Management LLC now owns 225,000 shares of the company's stock valued at $8,176,000 after buying an additional 2,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Smith-Midland by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,345 shares of the company's stock valued at $1,466,000 after buying an additional 3,244 shares during the last quarter. Stifel Financial Corp acquired a new position in Smith-Midland during the 4th quarter worth about $604,000. Finally, Lazard Asset Management LLC grew its holdings in Smith-Midland by 6.0% during the 3rd 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. 49.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SMID. Weiss Ratings reissued a "hold (c)" rating on shares of Smith-Midland in a report on Wednesday, June 24th. Wall Street Zen downgraded Smith-Midland from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Smith-Midland Stock Down 0.6%

Shares of Smith-Midland stock opened at $27.69 on Friday. The firm has a market cap of $146.76 million, a PE ratio of 19.10 and a beta of 1.76. The business's 50 day simple moving average is $29.04 and its 200 day simple moving average is $31.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 4.06. Smith-Midland Corp. has a 52-week low of $25.60 and a 52-week high of $43.62.

Smith-Midland (NASDAQ:SMID - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.26 earnings per share for the quarter. Smith-Midland had a return on equity of 14.06% and a net margin of 8.59%.The firm had revenue of $23.36 million during 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.

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