Smith-Midland (NASDAQ:SMID) Issues Earnings Results

Smith-Midland (NASDAQ:SMID) posted its earnings results on Tuesday. The company reported $0.25 earnings per share (EPS) for the quarter, Zacks reports. Smith-Midland had a return on equity of 24.91% and a net margin of 13.37%.

Smith-Midland Stock Up 12.3%

Shares of SMID stock traded up $3.55 on Tuesday, hitting $32.30. 14,657 shares of the stock were exchanged, compared to its average volume of 8,244. The company has a current ratio of 3.40, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $171.51 million, a P/E ratio of 13.74 and a beta of 1.73. The business has a 50-day moving average of $31.35 and a 200 day moving average of $33.44. Smith-Midland has a fifty-two week low of $25.60 and a fifty-two week high of $43.66.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a research note on Friday, March 27th. Wall Street Zen cut Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Smith-Midland by 0.7% during the third 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 during the period. Barclays PLC boosted its position in shares of Smith-Midland by 8.6% during the fourth quarter. Barclays PLC now owns 4,224 shares of the company’s stock worth $154,000 after buying an additional 335 shares during the period. Rhumbline Advisers boosted its position in shares of 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 buying an additional 372 shares during the period. Jane Street Group LLC boosted its position in shares of 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 buying an additional 583 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Smith-Midland by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,382 shares of the company’s stock worth $162,000 after buying an additional 638 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

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.