Millennium Management LLC Boosts Stock Position in Smith Douglas Homes Corp. (NYSE:SDHC)

Millennium Management LLC boosted its position in Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,459 shares of the company's stock after purchasing an additional 18,810 shares during the period. Millennium Management LLC owned about 0.11% of Smith Douglas Homes worth $1,448,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Yorktown Management & Research Co Inc purchased a new stake in shares of Smith Douglas Homes during the fourth quarter worth $236,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Smith Douglas Homes during the fourth quarter worth $27,000. Bank of New York Mellon Corp purchased a new stake in shares of Smith Douglas Homes during the fourth quarter worth $328,000. First Eagle Investment Management LLC lifted its position in shares of Smith Douglas Homes by 52.8% during the fourth quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company's stock worth $3,817,000 after acquiring an additional 51,419 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Smith Douglas Homes by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock worth $20,847,000 after acquiring an additional 35,702 shares in the last quarter.

Smith Douglas Homes Stock Performance

SDHC traded down $0.37 during trading on Friday, reaching $19.50. The stock had a trading volume of 38,051 shares, compared to its average volume of 100,682. The stock has a market cap of $1.00 billion, a PE ratio of 11.27, a PEG ratio of 6.87 and a beta of 1.05. Smith Douglas Homes Corp. has a one year low of $16.28 and a one year high of $39.50. The business has a 50-day moving average of $18.88 and a 200-day moving average of $23.05.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting analysts' consensus estimates of $0.46. The business had revenue of $287.49 million for the quarter, compared to analysts' expectations of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. Equities research analysts forecast that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

Smith Douglas Homes announced that its board has authorized a share buyback program on Wednesday, May 28th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

SDHC has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Wedbush reiterated a "neutral" rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Finally, Royal Bank of Canada set a $16.00 price objective on Smith Douglas Homes and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.90.

Insider Activity

In other news, insider Russell Devendorf bought 3,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was bought at an average cost of $16.80 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the insider now owns 299,952 shares in the company, valued at approximately $5,039,193.60. This trade represents a 1.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Jackson bought 6,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $18.49 per share, with a total value of $110,940.00. Following the completion of the acquisition, the director now owns 25,682 shares of the company's stock, valued at $474,860.18. This trade represents a 30.48% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 35,252 shares of company stock valued at $644,624. 82.71% of the stock is currently owned by insiders.

About Smith Douglas Homes

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.