Smith-Midland
SMID

$34.70

5.34%

Market Cap: 184M

About: Smith-Midland Corp through its subsidiaries invents, develops, manufactures, markets, sells, and installs precast concrete products for primary use in the construction, highway, utilities, and farming industries. The firm's customers are general contractors and federal, state, and local transportation authorities. Its products include Slenderwall, JJhooks, Softsound, Sierra Wall and Easi set. A substantial portion of the company's business is derived from local, state, and federal building projects. The company generates revenues predominantly from the sale, leasing, licensing, shipping, and installation of precast concrete products for the construction, utility, and farming industries.

Employees: 232

Materials Concrete Products, Except Block & Brick

0

Funds holding %

of 6,702 funds

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Analysts bullish %

–

News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

100% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 6

75% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 8

34% more capital invested

Capital invested by funds: $96.8M [Q4 2023] → $130M (+$33.3M) [Q1 2024]

16% more funds holding

Funds holding: 37 [Q4 2023] → 43 (+6) [Q1 2024]

6.05% more ownership

Funds ownership: 46.61% [Q4 2023] → 52.66% (+6.05%) [Q1 2024]

0% more funds holding in top 10

Funds holding in top 10: 2 [Q4 2023] → 2 (+0) [Q1 2024]

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Research analyst outlook

We haven’t received any recent analyst ratings for SMID.

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Financial journalist opinion

Zacks Investment Research

3 Microcaps to Benefit from Federal Highway Spending

The IIJA (Infrastructure Investment and Jobs Act) is a $1.2 trillion investment over a five-year period.

3 Microcaps to Benefit from Federal Highway Spending

Easi-Set Worldwide Develops New J-J Hook(TM) MASH 16 Low-Profile Barrier

MIDLAND, VA / ACCESSWIRE / July 8, 2024 / Easi-Set Worldwide a subsidiary of Smith-Midland Corporation (NASDAQ:SMID), has developed a J-J Hook™ Low-Profile Portable Concrete Barrier. The Company has been issued a provisional patent from the US Patent Office, has successfully crash-tested the barrier to the MASH 16 TL2 guidelines, and obtained a Federal Highway Association (FHWA) Letter of Eligibility (B-379).

Zacks Investment Research

Zacks Initiates Coverage of Smith-Midland With Neutral Recommendation

Discover why Zacks rates Smith-Midland (SMID) as "Neutral," being the first on Wall Street to initiate the coverage of the stock. Explore SMID's robust revenue growth and operational improvements amid significant risks, including rising material costs and dependency on a single customer.

Zacks Initiates Coverage of Smith-Midland With Neutral Recommendation

Smith-Midland Secures $7.5 Million Noise Wall Contract for Georgia Department of Transportation Project

COLUMBIA, SC / ACCESSWIRE / June 12, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has been awarded a new $7.5 million precast concrete noise wall contract for a Georgia Department of Transportation (GDOT) project. Smith-Midland South Carolina will manufacture more than 4,700 precast noise wall panels, with an Ashlar stone finish on both sides, for the I-285/I-20 interchange project, which is well known for having some of the worst traffic congestion in the country.

Smith-Midland Secures $7.5 Million Noise Wall Contract for Georgia Department of Transportation Project

Smith-Midland Reports First Quarter 2024 Financial Results

Highest Quarterly Revenue of $16.8 Million; Backlog of $64.6 Million MIDLAND, VA / ACCESSWIRE / June 11, 2024 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its first quarter results for the period ended March 31, 2024. First Quarter 2024 Summary (compared to prior-year quarter) Revenue increased 30 percent to $16.8 million Product sales increased 30 percent to $10.8 million Service revenue increased 31 percent to $6.0 million Operating income of $1.5 million, compared to $54,000 Net income of $1.1 million, or $0.22 and $0.21 per basic and diluted share, respectively, compared to $80,000 or $0.02 per basic and diluted share Started construction to double the size of its North Carolina plant "We are off to a strong start in 2024, posting a 30 percent increase in revenue from the prior-year quarter and our highest quarterly revenue," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland.

Smith-Midland Reports First Quarter 2024 Financial Results

Smith-Midland Announces Receipt of Nasdaq Letter

MIDLAND, VA / ACCESSWIRE / April 24, 2024 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it received a letter dated April 19, 2024, from Nasdaq, indicating that the Company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K").

Smith-Midland Announces Receipt of Nasdaq Letter

Smith-Midland Announces Delayed Filing of 2023 Form 10-K

MIDLAND, VA / ACCESSWIRE / April 1, 2024 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it has filed a Form 12b-25 with the Securities and Exchange Commission to provide notice of the late filing of its Annual Report on Form 10-K ("Form 10-K") for the year ended December 31, 2023. The company expects to file its Form 10-K on or before April 16, 2024.

Smith-Midland Announces Delayed Filing of 2023 Form 10-K

Smith-Midland's Utility Vault Orders Surge: Meeting Data Center Demand

MIDLAND, VA / ACCESSWIRE / March 19, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, is currently designing, manufacturing, and delivering more than $3 million in standard and custom designed utility vaults, rated for various weight requirements for multiple projects throughout Northern Virginia. Utility vaults are in high demand, and Smith-Midland's precast concrete vaults are engineered with both standard and custom designs to be used for numerous projects in their Midland, Virginia plant market, where data center growth is booming.

Smith-Midland's Utility Vault Orders Surge: Meeting Data Center Demand

Smith-Midland Keeps Getting Overvalued

Smith-Midland is a pre-cast product manufacturing company on the East Coast. Despite optimism around the Infrastructure Act, the company would need to quadruple its revenues to justify its current stock price. The company's recent revenue trends indicate inflationary accommodation of prices rather than a secular change in business.

Smith-Midland Keeps Getting Overvalued

Smith-Midland to Double the Size of North Carolina Plant

MIDLAND, VA / ACCESSWIRE / January 11, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has commenced construction to double the size of its Reidsville, North Carolina plant. Smith-Midland North Carolina is investing almost $2 million to expand its production facility to 30,000 square feet, including the addition of a 20-ton crane.

Smith-Midland to Double the Size of North Carolina Plant

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