Smith-Midland (NASDAQ:SMID) Trading 1.4% Higher – Here’s What Happened

Smith-Midland Co. (NASDAQ:SMID)’s share price shot up 1.4% during trading on Wednesday . The stock traded as high as $46.50 and last traded at $44.46. 8,033 shares changed hands during trading, a decline of 71% from the average session volume of 28,157 shares. The stock had previously closed at $43.86.

Smith-Midland Trading Down 0.8 %

The company has a fifty day simple moving average of $42.65 and a two-hundred day simple moving average of $35.74. The company has a market capitalization of $231.56 million, a P/E ratio of 36.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.78 and a quick ratio of 2.28.

Hedge Funds Weigh In On Smith-Midland

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC grew its stake in Smith-Midland by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 2,866 shares of the company’s stock valued at $96,000 after buying an additional 1,615 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Smith-Midland in the second quarter valued at about $125,000. International Assets Investment Management LLC increased its stake in shares of Smith-Midland by 3,239.0% in the third quarter. International Assets Investment Management LLC now owns 6,678 shares of the company’s stock worth $223,000 after purchasing an additional 6,478 shares during the period. Barclays PLC lifted its position in shares of Smith-Midland by 236.3% during the 3rd quarter. Barclays PLC now owns 6,984 shares of the company’s stock worth $233,000 after purchasing an additional 4,907 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Smith-Midland during the 3rd quarter valued at approximately $254,000. Institutional investors and hedge funds 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.