Thompson Davis & CO. Inc. Buys 27,014 Shares of Smith-Midland Corp. $SMID

Key Points

• Thompson Davis & CO. Inc. has increased its position in Smith-Midland Corp. (NASDAQ:SMID) by 1.5%, making it the fund's largest holding at approximately 44.1% of its portfolio, valued at around $56.3 million.
• Smith-Midland shares are currently experiencing significant interest from institutional investors, with notable increases in holdings from firms such as JPMorgan Chase and Wells Fargo.
• The company reported a robust earnings performance with an EPS of $0.79 and a net margin of 11.64% in its last quarterly report, while shares are trading above their 50-day and 200-day moving averages.

Thompson Davis & CO. Inc. grew its holdings in Smith-Midland Corp. (NASDAQ:SMID - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,811,935 shares of the company's stock after purchasing an additional 27,014 shares during the period. Smith-Midland comprises approximately 44.1% of Thompson Davis & CO. Inc.'s holdings, making the stock its largest holding. Thompson Davis & CO. Inc. owned approximately 34.16% of Smith-Midland worth $56,297,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SMID. JPMorgan Chase & Co. increased its stake in shares of Smith-Midland by 569.2% during the fourth quarter. JPMorgan Chase & Co. now owns 19,749 shares of the company's stock valued at $878,000 after buying an additional 16,798 shares during the period. Lazard Asset Management LLC boosted its position in Smith-Midland by 16,337.9% during the fourth quarter. Lazard Asset Management LLC now owns 10,849 shares of the company's stock valued at $482,000 after purchasing an additional 10,783 shares in the last quarter. Marshall Wace LLP bought a new stake in Smith-Midland during the fourth quarter valued at about $300,000. Northern Trust Corp boosted its position in Smith-Midland by 14.6% during the fourth quarter. Northern Trust Corp now owns 45,103 shares of the company's stock valued at $2,005,000 after purchasing an additional 5,747 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Smith-Midland by 3,790.4% during the fourth quarter. Deutsche Bank AG now owns 4,863 shares of the company's stock valued at $216,000 after purchasing an additional 4,738 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company's stock.

Smith-Midland Stock Performance

SMID stock traded down $3.3050 during trading on Wednesday, hitting $38.6950. 6,279 shares of the company traded hands, compared to its average volume of 13,095. The stock's 50-day simple moving average is $35.43 and its 200 day simple moving average is $33.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.88 and a quick ratio of 1.98. The company has a market cap of $205.28 million, a PE ratio of 17.05 and a beta of 1.66. Smith-Midland Corp. has a 1 year low of $25.13 and a 1 year high of $51.96.

Smith-Midland (NASDAQ:SMID - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.79 earnings per share for the quarter. The company had revenue of $26.20 million during the quarter. Smith-Midland had a return on equity of 27.32% and a net margin of 13.24%.

Analyst Ratings Changes

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

Smith-Midland Profile

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.