Smith-Midland (NASDAQ:SMID) Stock Price Down 1.8% – What’s Next?

Smith-Midland Corp. (NASDAQ:SMID) shares were down 1.8% during trading on Tuesday . The stock traded as low as $28.92 and last traded at $29.00. 29,975 shares traded hands during mid-day trading, an increase of 92% from the average daily volume of 15,628 shares. The stock had previously closed at $29.52.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMID. Wall Street Zen cut Smith-Midland from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Smith-Midland in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Smith-Midland Trading Down 1.8%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 3.11. The business has a 50-day simple moving average of $31.19 and a two-hundred day simple moving average of $33.02. The stock has a market cap of $153.99 million, a price-to-earnings ratio of 14.65 and a beta of 1.73.

Smith-Midland (NASDAQ:SMID) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $0.25 earnings per share (EPS) for the quarter. Smith-Midland had a net margin of 11.36% and a return on equity of 19.87%. The company had revenue of $21.57 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMID. Stifel Financial Corp acquired a new stake in Smith-Midland in the 4th quarter valued at $604,000. Thompson Davis & CO. Inc. lifted its position 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 buying an additional 7,448 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Smith-Midland by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 44,729 shares of the company’s stock worth $1,455,000 after buying an additional 4,384 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Smith-Midland by 8.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 50,590 shares of the company’s stock worth $1,838,000 after buying an additional 4,099 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 valued at $8,278,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 49.94% of the company’s stock.

Smith-Midland Company Profile

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.