Smith-Midland (NASDAQ:SMID) Major Shareholder Sells $564,812.16 in Stock

Key Points

• Rodney Smith, a major shareholder of Smith-Midland Corp., sold 13,656 shares at an average price of $41.36, totaling approximately $564,812, resulting in a 2.49% decrease in his ownership.
• Smith-Midland Corp. has a market capitalization of $218.73 million and reported earnings of $0.79 per share along with revenues of $26.20 million for the last quarter.
• Wall Street Zen recently downgraded Smith-Midland's rating from "buy" to "hold", indicating a shift in analyst sentiment towards the stock.

Smith-Midland Corp. (NASDAQ:SMID - Get Free Report) major shareholder Rodney I. Smith sold 13,656 shares of Smith-Midland stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $41.36, for a total value of $564,812.16. Following the sale, the insider directly owned 534,499 shares of the company's stock, valued at approximately $22,106,878.64. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Smith-Midland Stock Performance

SMID traded up $1.45 on Friday, reaching $43.17. 17,447 shares of the stock were exchanged, compared to its average volume of 11,994. The company's 50-day moving average price is $37.28 and its 200 day moving average price is $33.64. Smith-Midland Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.88 and a quick ratio of 2.44. The firm has a market capitalization of $228.80 million, a PE ratio of 19.02 and a beta of 1.66.

Smith-Midland (NASDAQ:SMID - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.79 EPS 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%.

Hedge Funds Weigh In On Smith-Midland

Several institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. increased its stake in shares of Smith-Midland by 24.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,245,903 shares of the company's stock valued at $75,373,000 after purchasing an additional 433,968 shares in the last quarter. Needham Investment Management LLC increased its stake in Smith-Midland by 0.5% during the 4th quarter. Needham Investment Management LLC now owns 211,000 shares of the company's stock worth $9,381,000 after buying an additional 1,000 shares in the last quarter. Northern Trust Corp increased its stake in Smith-Midland by 14.6% during the 4th quarter. Northern Trust Corp now owns 45,103 shares of the company's stock worth $2,005,000 after buying an additional 5,747 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Smith-Midland by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,864 shares of the company's stock worth $1,416,000 after buying an additional 2,252 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Smith-Midland by 569.2% during the 4th quarter. JPMorgan Chase & Co. now owns 19,749 shares of the company's stock worth $878,000 after buying an additional 16,798 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Smith-Midland from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th.

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.