Smith-Midland (NASDAQ:SMID) Releases Earnings Results

Key Points

• Smith-Midland reported quarterly EPS of $0.26 on revenue of $23.36 million, with a 19.87% return on equity and an 11.36% net margin.
• Shares rose 1.7% to $28.21 in Friday trading. The company has a $149.8 million market capitalization, a 14.25 P/E ratio and low debt relative to equity.
• Institutional investors and hedge funds own 49.94% of the stock, while analysts maintain a consensus “Hold” rating.

Smith-Midland (NASDAQ:SMID - Get Free Report) issued its quarterly earnings data on Friday. The company reported $0.26 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $23.36 million during the quarter. Smith-Midland had a return on equity of 19.87% and a net margin of 11.36%.

Smith-Midland Stock Up 1.7%

Smith-Midland stock traded up $0.46 during mid-day trading on Friday, reaching $28.21. 18,335 shares of the company's stock were exchanged, compared to its average volume of 10,572. The company has a market cap of $149.80 million, a P/E ratio of 14.25 and a beta of 1.76. Smith-Midland has a twelve month low of $25.60 and a twelve month high of $43.66. The company has a quick ratio of 2.68, a current ratio of 3.11 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $29.30 and a 200-day moving average of $31.53.

Institutional Trading of Smith-Midland

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Smith-Midland by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company's stock valued at $1,368,000 after purchasing an additional 267 shares during the period. Barclays PLC boosted its holdings in Smith-Midland by 8.6% in the fourth quarter. Barclays PLC now owns 4,224 shares of the company's stock valued at $154,000 after purchasing an additional 335 shares in the last quarter. Rhumbline Advisers raised its holdings in Smith-Midland by 9.6% during the first quarter. Rhumbline Advisers now owns 4,265 shares of the company's stock worth $133,000 after purchasing an additional 372 shares in the last quarter. Jane Street Group LLC raised its holdings in Smith-Midland by 9.8% during the fourth quarter. Jane Street Group LLC now owns 6,530 shares of the company's stock worth $237,000 after purchasing an additional 583 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Smith-Midland by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company's stock worth $162,000 after acquiring an additional 638 shares in the last quarter. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SMID shares. Wall Street Zen lowered shares of Smith-Midland from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Smith-Midland in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Smith-Midland Company Profile

Smith-Midland Corporation NASDAQ: SMID is a Virginia‐based manufacturer specializing in precast and cast‐in‐place concrete products for use in residential, commercial and infrastructure applications. Headquartered in Midland, Virginia, the company operates a primary production facility where it designs, engineers and produces a wide array of concrete components under stringent quality controls. Smith‐Midland's products are widely used by builders, contractors and government agencies across the United States.

The company's Construction Products Group offers an extensive portfolio of engineered solutions for transportation and site development projects.

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