Smith-Midland (NASDAQ:SMID) Announces 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) issued its earnings results on Thursday. The company reported $0.79 EPS for the quarter, Zacks reports. The firm had revenue of $26.20 million for the quarter. Smith-Midland had a return on equity of 28.42% and a net margin of 13.24%.

Smith-Midland Price Performance

Shares of SMID stock traded down $0.40 during trading hours on Friday, hitting $42.17. 7,911 shares of the company's stock were exchanged, compared to its average volume of 9,619. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 0.09. The firm has a market cap of $223.50 million, a P/E ratio of 18.58 and a beta of 1.66. The firm has a 50 day moving average of $35.00 and a two-hundred day moving average of $33.42. Smith-Midland has a fifty-two week low of $25.13 and a fifty-two week high of $51.96.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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

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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