Smith-Midland (NASDAQ:SMID) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Smith-Midland (NASDAQ:SMID - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Smith-Midland Stock Up 7.5%

SMID traded up $2.67 on Friday, reaching $38.26. 26,598 shares of the company traded hands, compared to its average volume of 19,225. The company has a market cap of $202.97 million, a price-to-earnings ratio of 20.68 and a beta of 1.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.39 and a quick ratio of 1.94. The stock's 50 day moving average price is $31.48 and its 200-day moving average price is $33.95. Smith-Midland has a 52-week low of $25.13 and a 52-week high of $51.96.

Smith-Midland (NASDAQ:SMID - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.62 earnings per share (EPS) for the quarter. Smith-Midland had a net margin of 9.78% and a return on equity of 19.86%. The company had revenue of $22.70 million during the quarter.

Institutional Investors Weigh In On Smith-Midland

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. grew its stake in shares of Smith-Midland by 1.5% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,811,935 shares of the company's stock valued at $56,297,000 after buying an additional 27,014 shares in the last quarter. Needham Investment Management LLC lifted its stake in Smith-Midland by 0.5% in the fourth quarter. Needham Investment Management LLC now owns 211,000 shares of the company's stock valued at $9,381,000 after acquiring an additional 1,000 shares during the last quarter. Northern Trust Corp grew its position in Smith-Midland by 14.6% in the fourth quarter. Northern Trust Corp now owns 45,103 shares of the company's stock worth $2,005,000 after acquiring an additional 5,747 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Smith-Midland by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,864 shares of the company's stock worth $1,416,000 after purchasing an additional 2,252 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Smith-Midland by 569.2% during the 4th quarter. JPMorgan Chase & Co. now owns 19,749 shares of the company's stock valued at $878,000 after purchasing an additional 16,798 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

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.