Smith-Midland (NASDAQ:SMID) Posts Quarterly Earnings Results

Smith-Midland (NASDAQ:SMID) issued its quarterly earnings data on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $21.50 million during the quarter. Smith-Midland had a return on equity of 27.32% and a net margin of 13.24%.

Smith-Midland Stock Down 0.7%

Shares of Smith-Midland stock traded down $0.25 on Friday, hitting $37.90. The company had a trading volume of 18,683 shares, compared to its average volume of 12,279. Smith-Midland has a 1 year low of $25.13 and a 1 year high of $51.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.44 and a current ratio of 2.88. The stock has a 50 day moving average of $37.88 and a 200-day moving average of $35.81. The stock has a market capitalization of $201.06 million, a price-to-earnings ratio of 16.70 and a beta of 1.76.

Insider Activity at Smith-Midland

In other Smith-Midland news, major shareholder Rodney I. Smith sold 13,656 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $41.36, for a total transaction of $564,812.16. Following the transaction, the insider directly owned 534,499 shares in the company, valued at approximately $22,106,878.64. This trade represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Russell Bruner sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $39.06, for a total transaction of $234,360.00. Following the completion of the sale, the director owned 6,594 shares of the company’s stock, valued at approximately $257,561.64. The trade was a 47.64% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,000 shares of company stock worth $853,081. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMID. Lazard Asset Management LLC boosted its holdings in Smith-Midland by 6.0% during the third quarter. Lazard Asset Management LLC now owns 12,631 shares of the company’s stock worth $466,000 after purchasing an additional 715 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Smith-Midland by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company’s stock worth $1,368,000 after buying an additional 267 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Smith-Midland by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 224,345 shares of the company’s stock worth $8,278,000 after buying an additional 2,800 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Smith-Midland by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock valued at $162,000 after acquiring an additional 638 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Smith-Midland by 495.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock valued at $60,000 after acquiring an additional 1,487 shares during the last quarter. 49.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

SMID has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Smith-Midland in a research report on Thursday. Wall Street Zen lowered Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Smith-Midland has a consensus rating of “Hold”.

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.