Smith-Midland Co. (NASDAQ:SMID) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in Smith-Midland Co. (NASDAQ:SMID - Free Report) by 16,337.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,849 shares of the company's stock after buying an additional 10,783 shares during the period. Lazard Asset Management LLC owned 0.20% of Smith-Midland worth $482,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SMID. Barclays PLC boosted its holdings in shares of Smith-Midland by 236.3% in the 3rd quarter. Barclays PLC now owns 6,984 shares of the company's stock valued at $233,000 after buying an additional 4,907 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Smith-Midland in the 4th quarter valued at $48,000. Thompson Davis & CO. Inc. boosted its holdings in shares of Smith-Midland by 1.9% in the 4th quarter. Thompson Davis & CO. Inc. now owns 1,784,921 shares of the company's stock valued at $79,358,000 after buying an additional 33,957 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Smith-Midland by 16.2% in the 4th quarter. Bank of New York Mellon Corp now owns 11,144 shares of the company's stock valued at $495,000 after buying an additional 1,553 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Smith-Midland by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,101 shares of the company's stock valued at $582,000 after buying an additional 732 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Smith-Midland from a "hold" rating to a "buy" rating in a research report on Saturday.

Smith-Midland Stock Performance

SMID stock traded down $1.23 on Friday, hitting $29.31. The company's stock had a trading volume of 19,822 shares, compared to its average volume of 22,900. The firm has a 50 day moving average of $30.91 and a two-hundred day moving average of $37.20. Smith-Midland Co. has a 1 year low of $25.03 and a 1 year high of $51.96. The stock has a market cap of $155.49 million, a price-to-earnings ratio of 24.22 and a beta of 1.63. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 0.11.

About Smith-Midland

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.