Smith-Midland (NASDAQ:SMID) Stock Price Up 3.4% – Time to Buy?

Smith-Midland Corp. (NASDAQ:SMID) rose 3.4% during mid-day trading on Wednesday . The stock traded as high as $30.43 and last traded at $30.11. Approximately 11,934 shares changed hands during trading, a decline of 34% from the average session volume of 17,985 shares. The stock had previously closed at $29.11.

Analyst Ratings Changes

SMID has been the subject of a number of research reports. Wall Street Zen downgraded shares of Smith-Midland from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smith-Midland in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Smith-Midland Stock Performance

The company has a quick ratio of 2.68, a current ratio of 3.11 and a debt-to-equity ratio of 0.07. The firm has a market cap of $159.88 million, a P/E ratio of 15.21 and a beta of 1.72. The business has a fifty day simple moving average of $30.00 and a 200-day simple moving average of $32.37.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Smith-Midland by 9.6% in the first quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock worth $133,000 after purchasing an additional 372 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Smith-Midland by 495.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after purchasing an additional 1,487 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Smith-Midland by 17.0% in the 3rd 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 last quarter. Vanguard Group Inc. grew 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. Finally, Dimensional Fund Advisors LP increased its position in Smith-Midland by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,101 shares of the company’s stock valued at $1,368,000 after buying an additional 267 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 (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.