Smith-Midland (NASDAQ:SMID) Stock Price Up 3.4% - Time to Buy?

Key Points

• Smith-Midland shares rose 3.4% on Wednesday, trading as high as $30.43 before last changing hands at $30.11. Volume came in below average, with about 11,934 shares traded versus a typical 17,985.
• Analyst sentiment remains cautious: Weiss Ratings reiterated a Hold and Wall Street Zen cut the stock from Buy to Hold. MarketBeat now shows a consensus rating of Hold.
• The company reported Q2 EPS of $0.25 and revenue of $21.57 million, while maintaining solid financials including a current ratio of 3.11 and very low debt-to-equity of 0.07.

Smith-Midland Corp. (NASDAQ:SMID - Get Free Report)'s stock price traded up 3.4% on Wednesday . The company traded as high as $30.43 and last traded at $30.11. Approximately 11,934 shares were traded during trading, a decline of 34% from the average session volume of 17,985 shares. The stock had previously closed at $29.11.

Analyst Ratings Changes

SMID has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Smith-Midland in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Smith-Midland from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Smith-Midland Stock Performance

The company has a market cap of $159.88 million, a PE ratio of 15.21 and a beta of 1.72. The company has a current ratio of 3.11, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $30.00 and a 200-day moving average of $32.37.

Smith-Midland (NASDAQ:SMID - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $0.25 EPS for the quarter. Smith-Midland had a return on equity of 19.87% and a net margin of 11.36%.The business had revenue of $21.57 million during the quarter.

Hedge Funds Weigh In On Smith-Midland

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in Smith-Midland by 495.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company's stock worth $60,000 after acquiring an additional 1,487 shares during the period. Wells Fargo & Company MN increased its position in Smith-Midland by 75.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,039 shares of the company's stock valued at $110,000 after purchasing an additional 1,307 shares during the period. Rhumbline Advisers increased its position in Smith-Midland by 9.6% during the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company's stock valued at $133,000 after purchasing an additional 372 shares during the period. Barclays PLC increased its position in Smith-Midland by 8.6% during the 4th quarter. Barclays PLC now owns 4,224 shares of the company's stock valued at $154,000 after purchasing an additional 335 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Smith-Midland by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company's stock worth $162,000 after purchasing an additional 638 shares in the last quarter. Institutional investors own 49.94% of the company's stock.

About Smith-Midland

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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