Smith Douglas Homes Corp. (NYSE:SDHC) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in Smith Douglas Homes Corp. (NYSE:SDHC) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,001 shares of the company’s stock after acquiring an additional 848 shares during the quarter. M&T Bank Corp’s holdings in Smith Douglas Homes were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SDHC. Wasatch Advisors LP boosted its stake in Smith Douglas Homes by 438.9% during the 4th quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company’s stock valued at $29,640,000 after purchasing an additional 941,511 shares in the last quarter. Beck Mack & Oliver LLC boosted its stake in shares of Smith Douglas Homes by 58.1% during the 4th quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company’s stock worth $17,933,000 after acquiring an additional 256,950 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Smith Douglas Homes by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after acquiring an additional 35,702 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Smith Douglas Homes by 31.9% during the 4th quarter. Renaissance Technologies LLC now owns 99,200 shares of the company’s stock worth $2,543,000 after acquiring an additional 24,000 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Smith Douglas Homes by 366.3% during the 4th quarter. Two Sigma Investments LP now owns 27,550 shares of the company’s stock worth $706,000 after acquiring an additional 21,642 shares in the last quarter.

Wall Street Analysts Forecast Growth

SDHC has been the subject of several research reports. Royal Bank Of Canada set a $16.00 price objective on Smith Douglas Homes and gave the stock a “sector perform” rating in a research note on Tuesday, May 20th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their target price on Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their target price on Smith Douglas Homes from $24.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.90.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson acquired 6,000 shares of Smith Douglas Homes stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $18.49 per share, with a total value of $110,940.00. Following the completion of the transaction, the director owned 25,682 shares in the company, valued at approximately $474,860.18. This trade represents a 30.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Russell Devendorf acquired 3,000 shares of Smith Douglas Homes stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average cost of $16.80 per share, with a total value of $50,400.00. Following the transaction, the insider owned 299,952 shares of the company’s stock, valued at approximately $5,039,193.60. The trade was a 1.01% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 40,652 shares of company stock worth $748,964. 82.71% of the stock is currently owned by corporate insiders.

Smith Douglas Homes Stock Down 2.6%

Shares of Smith Douglas Homes stock opened at $19.36 on Friday. The stock has a market cap of $995.68 million, a PE ratio of 11.19, a price-to-earnings-growth ratio of 10.23 and a beta of 1.06. The business has a fifty day simple moving average of $19.09 and a 200-day simple moving average of $20.63. Smith Douglas Homes Corp. has a 12 month low of $16.28 and a 12 month high of $39.50.

Smith Douglas Homes announced that its board has initiated a share repurchase plan on Wednesday, May 28th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

About Smith Douglas Homes

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.