Smith-Midland (NASDAQ:SMID) Shares Down 1.8% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Smith-Midland in a report on Wednesday, June 24th. Wall Street Zen downgraded Smith-Midland from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Smith-Midland currently has a consensus rating of “Hold”.

Smith-Midland Price Performance

The firm has a market capitalization of $157.71 million, a PE ratio of 15.00 and a beta of 1.72. 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 stock has a fifty day moving average price of $31.14 and a 200-day moving average price of $32.99.

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

Institutional Trading of Smith-Midland

A number of institutional investors have recently made changes to their positions in SMID. Rice Hall James & Associates LLC increased its position in Smith-Midland by 1.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 51,346 shares of the company’s stock valued at $1,670,000 after buying an additional 756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Smith-Midland by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 44,729 shares of the company’s stock worth $1,455,000 after acquiring an additional 4,384 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Smith-Midland by 0.4% during the first quarter. Thompson Davis & CO. Inc. now owns 1,841,775 shares of the company’s stock worth $59,913,000 after acquiring an additional 7,448 shares during the last quarter. Needham Investment Management LLC increased its holdings in shares of Smith-Midland by 0.9% during the fourth quarter. Needham Investment Management LLC now owns 225,000 shares of the company’s stock valued at $8,176,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Smith-Midland by 8.6% during the fourth quarter. Barclays PLC now owns 4,224 shares of the company’s stock valued at $154,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds 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.