Smith-Midland (NASDAQ:SMID) Trading Down 5.8% - Should You Sell?

Key Points

• Smith-Midland's shares fell by 5.8% to $39.60 after closing at $42.02, with trading volume down slightly from the average.
• Wall Street Zen downgraded Smith-Midland from a "buy" to a "hold" rating, contributing to investor uncertainty.
• Insiders have sold a total of 21,000 shares in the past 90 days, indicating potential concerns about the stock's performance.

Smith-Midland Corp. (NASDAQ:SMID - Get Free Report) shares dropped 5.8% during mid-day trading on Tuesday . The company traded as low as $39.07 and last traded at $39.60. Approximately 11,230 shares changed hands during trading, a decline of 1% from the average daily volume of 11,332 shares. The stock had previously closed at $42.02.

Analysts Set New Price Targets

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

Smith-Midland Stock Performance

The company has a market cap of $211.05 million, a price-to-earnings ratio of 17.54 and a beta of 1.72. 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 stock has a 50-day moving average price of $38.92 and a 200 day moving average price of $33.95.

Smith-Midland (NASDAQ:SMID - Get Free Report) last released 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 for the quarter. Smith-Midland had a return on equity of 27.32% and a net margin of 13.24%.

Insider Transactions at Smith-Midland

In other news, Director James Russell Bruner sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $39.06, for a total transaction of $234,360.00. Following the sale, the director owned 6,594 shares of the company's stock, valued at $257,561.64. This trade represents a 47.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Rodney I. Smith sold 13,656 shares of the firm's 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 in the company, valued at approximately $22,106,878.64. This represents a 2.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,000 shares of company stock worth $853,081. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Smith-Midland

Several institutional investors have recently bought and sold shares of SMID. Thompson Davis & CO. Inc. lifted its stake in 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 acquiring an additional 433,968 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Smith-Midland during the 2nd quarter worth approximately $370,000. Lazard Asset Management LLC increased its position in shares of Smith-Midland by 16,337.9% during the 4th quarter. Lazard Asset Management LLC now owns 10,849 shares of the company's stock worth $482,000 after purchasing an additional 10,783 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Smith-Midland during the 2nd quarter worth approximately $238,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of Smith-Midland during the 2nd quarter worth approximately $211,000. Institutional investors own 49.94% of the company's stock.

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.