Smith-Midland (NASDAQ:SMID) Posts Quarterly Earnings Results

Key Points

• Smith-Midland (NASDAQ:SMID) reported an EPS of $0.79 for the quarter, alongside revenue of $26.20 million.
• Institutional investor Tower Research Capital increased its stake in Smith-Midland by 495.7%, now holding nearly 50% of the company's stock.
• Wall Street analysts have downgraded Smith-Midland from a "buy" to a "hold" rating, reflecting a shift in market sentiment.

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

Smith-Midland Trading Down 1.0%

Shares of SMID traded down $0.38 on Thursday, hitting $39.22. 6,452 shares of the stock traded hands, compared to its average volume of 13,164. The company has a quick ratio of 1.98, a current ratio of 2.88 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $207.87 million, a P/E ratio of 17.28 and a beta of 1.66. The stock's 50 day moving average is $35.63 and its two-hundred day moving average is $33.45. Smith-Midland has a 1 year low of $25.13 and a 1 year high of $51.96.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Smith-Midland

A hedge fund recently raised its stake in Smith-Midland stock. Tower Research Capital LLC TRC lifted its holdings in Smith-Midland Corp. (NASDAQ:SMID - Free Report) by 495.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,787 shares of the company's stock after acquiring an additional 1,487 shares during the period. Tower Research Capital LLC TRC's holdings in Smith-Midland were worth $60,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.94% of the company's stock.

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.