Smith-Midland (NASDAQ:SMID) Cut to Hold at Wall Street Zen

Smith-Midland (NASDAQ:SMID) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Smith-Midland Trading Down 0.9%

NASDAQ:SMID opened at $42.17 on Friday. Smith-Midland has a twelve month low of $25.13 and a twelve month high of $51.96. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $35.00 and a two-hundred day moving average price of $33.42. The company has a market cap of $223.50 million, a P/E ratio of 18.58 and a beta of 1.66.

Smith-Midland (NASDAQ:SMID) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.79 earnings per share for the quarter. Smith-Midland had a return on equity of 28.42% and a net margin of 13.24%. The firm had revenue of $26.20 million for the quarter.

Institutional Investors Weigh In On Smith-Midland

Several hedge funds and other institutional investors have recently modified their holdings of SMID. Tower Research Capital LLC TRC grew its holdings in Smith-Midland by 495.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after buying an additional 1,487 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Smith-Midland during the fourth quarter worth $72,000. Wells Fargo & Company MN grew its holdings in Smith-Midland by 61.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,235 shares of the company’s stock worth $99,000 after buying an additional 851 shares in the last quarter. Rhumbline Advisers grew its holdings in Smith-Midland by 9.6% during the first quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock worth $133,000 after buying an additional 372 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Smith-Midland by 39,258.3% during the first quarter. GAMMA Investing LLC now owns 4,723 shares of the company’s stock worth $152,000 after buying an additional 4,711 shares in the last quarter. Institutional investors own 49.94% of the company’s stock.

About Smith-Midland

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.