BlackRock Inc. Acquires Shares of 196,437 Smith-Midland Corp. $SMID

Key Points

• BlackRock acquired 196,437 Smith-Midland shares worth approximately $5.7 million, giving it a 3.70% stake. Overall, hedge funds and institutional investors own 49.94% of SMID.
• Smith-Midland reported quarterly EPS of $0.26 on revenue of $23.36 million, with an 8.59% net margin and 14.06% return on equity.
• Analyst sentiment remains neutral: Weiss Ratings reiterated a “hold (C)” rating, and the stock has an average “Hold” rating. SMID opened at $26.03, versus a 52-week range of $24.63 to $43.25.

BlackRock Inc. bought a new stake in Smith-Midland Corp. (NASDAQ:SMID - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 196,437 shares of the company's stock, valued at approximately $5,697,000. BlackRock Inc. owned about 3.70% of Smith-Midland at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of Smith-Midland by 495.7% during 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. Deutsche Bank AG purchased a new position in Smith-Midland in the 2nd quarter valued at $58,000. Wells Fargo & Company MN increased its stake in Smith-Midland by 75.5% in the 4th 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 period. Barclays PLC increased its stake in Smith-Midland by 8.6% in 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 during the period. Finally, Rhumbline Advisers raised its position in Smith-Midland by 9.6% during the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company's stock worth $133,000 after buying an additional 372 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Smith-Midland in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold".

Smith-Midland Price Performance

Shares of NASDAQ SMID opened at $26.03 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.31 and a current ratio of 4.06. Smith-Midland Corp. has a one year low of $24.63 and a one year high of $43.25. The firm has a market capitalization of $137.96 million, a P/E ratio of 17.95 and a beta of 1.75. The company's fifty day moving average is $28.31 and its two-hundred day moving average is $30.60.

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

Smith-Midland 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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