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

Smith-Midland Price Performance

NASDAQ:SMID traded up $0.13 during mid-day trading on Monday, hitting $41.27. The company's stock had a trading volume of 5,638 shares, compared to its average volume of 13,257. The company has a market capitalization of $218.73 million, a price-to-earnings ratio of 18.18 and a beta of 1.66. The company has a current ratio of 2.88, a quick ratio of 2.44 and a debt-to-equity ratio of 0.08. Smith-Midland Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.96. The stock has a fifty day moving average of $36.08 and a 200-day moving average of $33.42.

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

Smith-Midland Company 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.

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