Smith-Midland (NASDAQ:SMID) Stock Price Up 5.9% – Here’s Why

Shares of Smith-Midland Corp. (NASDAQ:SMID) rose 5.9% on Tuesday . The stock traded as high as $31.33 and last traded at $31.20. Approximately 14,138 shares were traded during trading, an increase of 60% from the average daily volume of 8,843 shares. The stock had previously closed at $29.45.

Analysts Set New Price Targets

SMID has been the subject of several research reports. Wall Street Zen downgraded Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Smith-Midland in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Smith-Midland Price Performance

The business has a fifty day moving average of $31.17 and a 200-day moving average of $33.83. The firm has a market cap of $165.67 million, a PE ratio of 13.28 and a beta of 1.77. The company has a current ratio of 3.40, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

Smith-Midland (NASDAQ:SMID) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.40 earnings per share (EPS) for the quarter. The business had revenue of $23.11 million for the quarter. Smith-Midland had a return on equity of 24.91% and a net margin of 13.37%.

Institutional Trading of Smith-Midland

A number of institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. lifted its holdings in Smith-Midland by 0.4% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,841,775 shares of the company’s stock worth $59,913,000 after purchasing an additional 7,448 shares in the last quarter. Needham Investment Management LLC lifted its holdings in Smith-Midland by 0.9% during the 4th quarter. Needham Investment Management LLC now owns 225,000 shares of the company’s stock worth $8,176,000 after purchasing an additional 2,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Smith-Midland by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 224,345 shares of the company’s stock worth $8,278,000 after purchasing an additional 2,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Smith-Midland by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 84,965 shares of the company’s stock worth $3,088,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Smith-Midland by 1.5% in the 1st quarter. Rice Hall James & Associates LLC now owns 51,346 shares of the company’s stock valued at $1,670,000 after acquiring an additional 756 shares in the last quarter. Hedge funds and other 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.