Smith-Midland (NASDAQ:SMID) Trading at $22.39

Key Points

• Smith-Midland shares were essentially unchanged at $22.39, with trading volume 31% below the average. The stock remains below its 50-day and 200-day moving averages.
• Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” while the sole covering analyst maintains a Hold rating; the overall consensus is also Hold.
• The company reported quarterly EPS of $0.26 on $23.36 million in revenue, with an 8.59% net margin and 14.06% return on equity. Institutional investors own nearly 50% of outstanding shares.

Smith-Midland Corp. (NASDAQ:SMID - Get Free Report)'s stock price dropped 0% during trading on Monday. The company traded as low as $22.28 and last traded at $22.39. Approximately 9,561 shares changed hands during trading, a decline of 31% from the average daily volume of 13,861 shares. The stock had previously closed at $22.40.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Smith-Midland from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Smith-Midland Stock Down 0.0%

The stock has a market cap of $118.67 million, a price-to-earnings ratio of 15.44 and a beta of 1.67. The company has a current ratio of 4.06, a quick ratio of 3.31 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $25.38 and its two-hundred day moving average is $28.76.

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 (EPS) for the quarter. Smith-Midland had a net margin of 8.59% and a return on equity of 14.06%. The company had revenue of $23.36 million for the quarter.

Hedge Funds Weigh In On Smith-Midland

Several institutional investors and hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. grew its stake in Smith-Midland by 0.4% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,841,775 shares of the company's stock worth $59,913,000 after acquiring an additional 7,448 shares during the period. Needham Investment Management LLC grew its holdings in 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 purchasing an additional 2,000 shares during the period. BlackRock Inc. acquired a new position in Smith-Midland during the second quarter worth approximately $5,697,000. Bard Associates Inc. acquired a new position in Smith-Midland during the second quarter worth approximately $2,316,000. Finally, Rice Hall James & Associates LLC purchased a new position in Smith-Midland during the second quarter worth approximately $1,565,000. Hedge funds and other institutional investors own 49.94% of the company's stock.

About Smith-Midland

Smith-Midland Corporation NASDAQ: SMID manufactures and sells precast concrete products for the construction, transportation, utility and agricultural markets. Its offerings include modular precast concrete buildings, architectural and structural wall systems, highway barriers, traffic-control products and other custom precast components.

The company's product lines include Easi-Set and Easi-Span precast concrete buildings, SlenderWall architectural and structural panels, and JJ Hooks highway and traffic barriers.

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