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Smith Midland Corporation

Smith Midland Corporation (SMID)

31.22
-1.03
(-3.19%)
Closed July 19 4:00PM
31.22
-0.10
(-0.32%)
After Hours: 5:30PM

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
31.22
Bid
31.08
Ask
50.88
Volume
21,428
31.08 Day's Range 33.55
16.83 52 Week Range 48.87
Market Cap
Previous Close
32.25
Open
32.69
Last Trade Time
Financial Volume
$ 693,586
VWAP
32.3682
Average Volume (3m)
36,639
Shares Outstanding
5,296,659
Dividend Yield
-
PE Ratio
208.66
Earnings Per Share (EPS)
0.15
Revenue
59.58M
Net Profit
795k

About Smith Midland Corporation

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 a... 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 primarily from the sale, leasing, licensing, shipping, and installation of precast concrete products for the construction, utility and farming industries. Show more

Sector
Concrete Pds, Ex Block,brick
Industry
Concrete Pds, Ex Block,brick
Headquarters
Wilmington, Delaware, USA
Founded
1970
Smith Midland Corporation is listed in the Concrete Pds, Ex Block,brick sector of the NASDAQ with ticker SMID. The last closing price for Smith Midland was $32.25. Over the last year, Smith Midland shares have traded in a share price range of $ 16.83 to $ 48.87.

Smith Midland currently has 5,296,659 shares outstanding. The market capitalization of Smith Midland is $170.82 million. Smith Midland has a price to earnings ratio (PE ratio) of 208.66.

SMID Latest News

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
13.8514.066496163727.3733.5527.0343497930.49222252CS
4-3.31-9.5858673617134.5336.8625.03016728528.24707334CS
12-5.78-15.62162162163739.5925.03013663931.01674904CS
26-7.55-19.473819963938.7748.8725.03013077135.9391656CS
526.2525.030036043324.9748.8716.832226034.18069906CS
15613.3674.80403135517.8648.8712.882026128.32116934CS
26023.22290.25848.877.82118525.68772869CS

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SMID Discussion

View Posts
jjr04001 jjr04001 2 years ago
Bounce coming $SMID
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Renee Renee 4 years ago
SMID moved to the Nasdaq from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions
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whytestocks whytestocks 5 years ago
News: $SMID Smith-Midland makes it an OTCQX Top 50 Three-Peat

MIDLAND, VA / ACCESSWIRE / January 24, 2019 / The Smith-Midland Corporation (OTCQX: SMID) has been ranked by OTC Markets Group as one of the Top 50 performing companies on their premier OTCQX exchange. Smith-Midland is the only company to be ranked in the Top 50 three years in a row. "We ...

Find out more https://marketwirenews.com/news-releases/smith-midland-makes-it-an-otcqx-top-50-three-peat-7548790.html
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swampboots swampboots 6 years ago
Yea on bright side , hoping country got a gonzo vaccination against gradation of complacency regarding keeping the old keep..uh what is that movie: "Its a Wonderful Life"?
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littlefish littlefish 6 years ago
Ya no big fancy missiles or tanks. Hopefully Trump (or those in his ear) realizes on a small scale it'll potentially do the opposite of intended effect- i.e. A little parade makes the country look little in a time where globally authoritarian/dictatorial rule is at its strongest in decades and democracy is quickly falling back from the run at the top it has had. Considering how big Trump is on image, I am guessing the idea won't last but we will see (go big or forget style).

All IMO only.
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swampboots swampboots 6 years ago
No Tanks no thanks!
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littlefish littlefish 6 years ago
Sounds like a somewhat toned down version if this parade goes but we'll see what impact it may have on barrier rental if SMID is called upon. I put this up on another board:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139185837
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littlefish littlefish 6 years ago
Shiny toys for the golden emperor...
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swampboots swampboots 6 years ago
Ha.if we go Commie SMID would be "pro" and earn many medals,lol!!!! Nice pick back when!!!
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littlefish littlefish 6 years ago
Could be interesting for Smith Midland if the parade ever gained traction...

http://amp.wsoctv.com/news/local/pentagon-says-president-trump-ordered-washington-military-parade/695877229

Still got some, would be a bonus for them if this cheesy taxpayer-funded idea happened.

All IMO only.
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littlefish littlefish 7 years ago
This has potential to be a recurring event to boost SMID's rental barriers in summer (sounds like an event close to as big as inaugural given it'd be down Pennsylvania Ave but hard to know at this juncture):


https://www.bloomberg.com/news/articles/2017-09-18/trump-says-he-may-hold-july-fourth-military-parade-in-washington
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littlefish littlefish 7 years ago
US concrete is not a pure play on concrete either although that is their core (they're lightly vertically integrated).

Hope your boots are high enough to keep you dry in the swamp. Found this article and picture near the swamp a little while back...

http://wjla.com/news/local/inauguration-2017-dc-businesses-prepare-for-barricades-road-closures-parking-headaches
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hweb2 hweb2 7 years ago
Nice writeup! Only thing that makes me a little nervous is this tidbit from the 10K. Sounds like Q1 will be on the soft side, which might present a buying opportunity down around $5.

From the 10K:

Sales continue to look strong for 2017, although several larger projects were delayed from starting in the first quarter of 2017 and will not start until the second quarter of the year.
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Knowledge is King Knowledge is King 7 years ago
MCEM is a pure concrete play; I own some...
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1center 1center 7 years ago
SA article $SMID @6.20 pps...https://seekingalpha.com/article/4061726-smith-midland-fundamentally-positioned-another-100-percent-run
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swampboots swampboots 8 years ago
Except for US concrete not many pure concrete plays right?

Checked the Mexican cement Co but so large and so much debt.
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littlefish littlefish 8 years ago
More like "pithification". Might explain a few things.
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swampboots swampboots 8 years ago
Great pick and now in sync with Trump "mythification".
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Trent Blair Trent Blair 8 years ago
Agreed. Bigger quarter than I was expecting. After this we have hurricane rebuilding work plus the FAST act plus more potential infrastructure spending due to Trump. He was promising a trillion in spending when he was campaigning.
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littlefish littlefish 8 years ago
Huge quarter for SMID and just the beginning of the next several years :).

Time for me to go sing What does the VOXX say with daughter.
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Trent Blair Trent Blair 8 years ago
They will probably get a decent bit of rebuilding or upgrading work in South Carolina after this Hurricane passes. Concrete stands up better to hurricanes than anything else.
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littlefish littlefish 8 years ago
Thx for the share 1center, I disagree with the author about this growth coming from the FAST Act. Very little of that legislated funding has made it out into the markets/customers/SMID in Q2 report. This was stuff from state level funding and old federal dollars IMO.

I expect growth in 2017 over 2016 minus the Pres Inaug contract and at that point think it will be boosted by FAST Act. Still a bit early for FAST act dollars.

All IMO only.

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1center 1center 8 years ago
$SMID..3.17..Smith-Midland Is A Rapidly Growing, Undiscovered Company

http://seekingalpha.com/article/3999622-smith-midland-rapidly-growing-undiscovered-company?auth_param=21hhj:1br3sb7:622374e4a8818d49c472821e86c71c96&uprof=45#alt1

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littlefish littlefish 8 years ago
1center- Did the governor go ahead and sign the $400 mill bill? Hopefully South Carolina gets a little more proactive funding roadwork going fwd. Georgia and North Carolina have been better lately but seems South Carolina is a bit stuck in the mud for longer term plans and fixes.

Was a solid report and I'm hopeful the new facility will become a good growth opportunity not only in SC but in southern reaches of NC and a good chunk of Georgia if they can cover thru to Atlanta. :)

2017 could shape up to be a record year if they can execute especially on margins. Looking forward to watching things continue to develop, I still have a little reflux off that Q1 margins report lol.
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littlefish littlefish 8 years ago
Econ- ya I went off a little on them on Q1 for the, uh, lack of building margins while hiring more peeps, giving them raises, and building backlog to historic highs ahead of time.

Guess they got the message but too bad they did the hiring and raises BEFORE the margin increases. Mngmnt mistake on their part plain and simple IMO. But, moving on...

That said, they didn't split out how much startup cost was involved in Q1 last Q (woulda been nice if they'd been better at telegraphing that in Q1 report commentary) and some lower margin earlier bid biz was getting churned thru in Q1 so the latter of those should be behind them and the continuing increase in capability down in Hopkins should bode well for being able to bid more work/better margin with more product going forward (breeeeeathe, long sentence LOL).

They work with some fairly big heavy civil companies already in Va and some of those companies also work down into the newer geographic footprint regions so I'm hopeful for a fairly smooth transition there. The facility has good overhead clearance so they should be able to expand product line (unlike in North Carolina where the facility is smallish and not enough overhead for some work).

Backlog burned down and it may tighten a little further next couple Qs but as previously mentioned, it's my opinion backlog will get to building again in 2017 and workloads may increase enough to raise pricing. At least SMID has the inaug contract and mentioned Q3 will be healthy too which gets them thru to 2017.

Should be a busy few years for many of these downtrodden infrastructure-intensive companies.

I like CUO better but this is also a core holding so was somewhat happy with their progress sequentially (margins still not where I'd like to see but getting better- I want to see COGS in the 70s% range).

All IMO. Good luck.

PS- new spending is going to have to get thru congress and we know what they've killed when it comes to incrastructure spend. But the jobs created are better paying and not service-side compared to many jobs available to less trained or educated work force IMO (part of the group left out of the little bit of recovery we've had) so maybe the branches will work together for a change. Maybe.
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Trent Blair Trent Blair 8 years ago
I took a position today. From the 10-Q looks like they're mainly bidding on higher margin contracts and expect to get a good bit of them. They're keeping costs down. The highway bill is really going to help the company out. On top of that you have both Hillary Clinton and Donald Trump claiming they would boost infrastructure spending by hundreds of billions.
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swampboots swampboots 8 years ago
Great to hear, especially your preview of foreseeable "lettings".
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littlefish littlefish 8 years ago
Thx swamp, this is a core holding for me and has been for quite awhile although I do flip some shares.

The timing of the Hopkins facility purchase was definitely fortuitous IMO and glad that finally got consummated.

It was obviously frustrating seeing Q1 revs results and the lousy margins (I tried to make that pretty clear lol) but they (probably CFO) did a much better job directly addressing the issue in this quarter's release with commentary in the Q filing so it looks like they are back on track with their business and running it profitably.

This should be the beginning of a sustainable run of increased work for them even with the backlog burn. They have good ties with several heavy civil companies that operate around the Mid Atlantic and into the Southeast.

The backlog burn was heavy in the Q but there should be a good bunch of lettings coming as 2017 develops and the next 2 Qs should be robustly healthy to give them a bridge getting to the increased project spends in 2017 and IMO probable bump back up in backlog. Looked like Rodney may have hinted at that with the commentary about 2017.

Should be some brighter years ahead finally in both the heavy and light construction area for the country. That bodes well for SMID.

All IMO.
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1center 1center 8 years ago
$SMID..$3.10..So nice to see the offer being bought....

8k letter from 7/14/16
The associates of the Company worked hard in 2015 to realize the $1.0 million dollar profit for the year; however, we will have to work even harder in 2016 to duplicate the same level of profit. 2016 started out slow in the first quarter with a small loss, however, the second quarter has begun to pick up and should result in a profitable quarter and a profitable six month period ending June 30, 2016. We have added some profitable contracts for 2016 that should see us through the year and into 2017. In addition, we have made some good advances in our production processes through lean manufacturing that have helped us reduce our labor cost and become more efficient. We will continue to update our production and office processes to make the Company more efficient, quality driven and safety conscious. These goals should add value to the Company and let our customers feel more confident in our pricing and quality commitments.
/s/ Rodney I. Smith
Rodney I. Smith
Chairman of the Board and
Chief Executive Officer

EXHIBIT 99.1
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&dcn=0000924719-16-000059&nav=1&src=Yahoo

http://finance.yahoo.com/q?s=SMID

http://smithmidland.com/
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swampboots swampboots 8 years ago
Great pick Littlefish reminds me of SLP eons ago.
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1center 1center 8 years ago
Rodney Smith,...$SMID..We believe that the third quarter should be significantly better than the second quarter.
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1center 1center 8 years ago
$SMID..Columbia property 8k.
http://ih.advfn.com/p.php?pid=nmona&article=72068685
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1center 1center 8 years ago
$SMID 07/14/16..To Our Smith-Midland Shareholders, Customers, Associates and Business Partners:

Results of operations for 2015

2015 was a very profitable year for Smith-Midland Corporation overall, with sales at $29.2 million for the year compared to $22.5 million for 2014, an increase of $6.7 million. Net income for the year 2015 was $1.0 million compared to a loss of $804,838 for 2014, an increase of $1.8 million. Both our barrier rental and our licensing companies had very strong years and contributed greatly to our success in 2015. The management for both companies have continued to be very aggressive in their marketing and sales programs for 2016 and forward to 2017. While we believe that 2016 will be a solid year for the Company, 2015 will be a difficult year to improve upon.
As the economy continues to improve, we expect our 60 plus Easi-Set Worldwide licensees will continue to see more highway and infrastructure projects tied to the large highway bill passed in late 2015 by Congress. Many of our licensees are already beginning to receive additional barrier sales orders because of the federal highway bill and we believe this trend will continue for 2016 and into 2017. The infrastructure improvements of the highway bill relate to products that are required on new road construction and improvements of old roads creating a need for additional manholes and utility buildings. Easi-Set utility buildings and JJ Hooks highway barriers are a large part of our licensing revenues and as such, we are seeing an increase in licensing revenues.
In 2015, Concrete Safety Systems realized a significant increase in short-term special barrier rental projects, combined with the additional services that go with the rental including transportation costs, manpower for loading and offloading as well as crews required to set and remove the rented barrier. In 2015 we had a single short-term special rental project that was very profitable for the Company, one that will not be repeated this year, however, our core business rentals will continue to grow and provide us with a good profit in 2016. In addition to our core rental business, the Company believes it may receive one or more smaller short-term special barrier rental projects to help improve our sales and net income for the rental division of the Company.
On March 27, 2016, the Company executed an agreement to purchase the land, building and fixtures of a precast concrete production facility located near Columbia, South Carolina for a purchase price of $1,550,000. The facility is located on 39 acres of land and has approximately 40,000 square feet of production auxiliary and office space. The purchase will be financed by a new 10 year term bank facility pursuant to a commitment letter with the Company's current bank in the amount of $1,240,000 with the balance being provided from the Company's cash resources. The sale is scheduled to close in the very near future. The new subsidiary, Smith-Columbia, is currently renting the facility from the owner allowing us to produce a $3.5 million barrier contract. With this contract, we expect the new facility to show a profit during the first year of operations.
Our precast manufacturing facility, Smith-Carolina, located in Reidsville, NC also made a profit in 2015 due to production of soundwall for a large highway project. The production of panels for this project is scheduled to continue through the end of 2016. The facility also has a significant contract for the sale of barrier and is one of our leading producers of Easi-Set utility buildings. We believe that Smith Carolina will continue to grow and expand in the near future and will be a shining star for the Company.
A Look Ahead to 2016 and Beyond
The associates of the Company worked hard in 2015 to realize the $1.0 million dollar profit for the year; however, we will have to work even harder in 2016 to duplicate the same level of profit. 2016 started out slow in the first quarter with a small loss, however, the second quarter has begun to pick up and should result in a profitable quarter and a profitable six month period ending June 30, 2016. We have added some profitable contracts for 2016 that should see us through the year and into 2017. In addition, we have made some good advances in our production processes through lean manufacturing that have helped us reduce our labor cost and become more efficient. We will continue to update our production and office processes to make the Company more efficient, quality driven and safety conscious. These goals should add value to the Company and let our customers feel more confident in our pricing and quality commitments.
/s/ Rodney I. Smith
Rodney I. Smith
Chairman of the Board and
Chief Executive Officer

EXHIBIT 99.1
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&dcn=0000924719-16-000059&nav=1&src=Yahoo

http://finance.yahoo.com/q?s=SMID

http://smithmidland.com/
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littlefish littlefish 8 years ago
Ah that's a ways away from the Hopkins place. I think the facility is on Garners Ferry Rd outside (east of) Columbia.

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1center 1center 8 years ago
I'm in Greenville upstate SC about 120 miles
from Columbia
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littlefish littlefish 8 years ago
1center, just out of curiosity how far are you from Hopkins if it's OK to ask?
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1center 1center 8 years ago
$SMID J-J Hooks Safety Barrier Plays Supporting Role in Community Beautification Project
Marketwired Smith-Midland Corporation
2 hours ago
????

MIDLAND, VA--(Marketwired - Jun 1, 2016) - Easi-Set Worldwide, a subsidiary of the Smith-Midland Corporation (OTCQX: SMID), project update: The Jamaica Bay, NY Restoration Corps and hundreds of volunteers worked together to design and paint a mural on J-J Hooks barrier provided, under a NYCDOT maintenance contract, by Easi-Set licensed producer Roman Stone Construction of Bay Shore, NY.

The Rockaway Barrier Beautification Project contains the longest mural in New York City, covering a 1.5 mile stretch of roadway along the beach in Rockaway, NY. The barrier protects pedestrians and bicyclists along Shore Front Parkway between Beach 74th and Beach 107th Streets in Rockaway Beach, NY -- an area significantly damaged by Superstorm Sandy.

The NYC Parks Department invited local artists and designers to envision the surface of these ordinary construction barriers as canvases for art and received submissions from more than 50 artists. The community residents were then allowed to vote on and select their three favorite designs.

The murals, covering more than 37,000 square feet, were hand-painted by over 250 volunteers and the NYC Parks staff over a 12-day period. All three winning designs selected by the Rockaway community were beachfront themes containing the ocean, waves, surfers, and seagulls.

"Roman Stone Construction," says Anna Faia, VP-Sales/Corporate Secretary, "is very proud to have been a part of the Beautification Project by providing the barrier and we continue to work with designers and contractors as they work to restore and beautify the Rockaway Beach area."

J-J Hooks, North America's most successful, proprietary precast concrete temporary safety barrier connection, has an extensive history of success and currently exceeds 12 million linear feet of product delivered. Installed on highway construction projects and in security barrier applications nationwide, J-J Hooks are being delivered at an average pace of one million feet annually. J-J Hooks safety barriers are procured from multiple licensed producers through competitive bidding with other non-proprietary barriers.

One of Easi-Set Worldwide's J-J Hooks licensed precast producer is NY based Roman Stone Construction Company, which has served the Long Island market since 1903. "Roman Stone has proven itself over the decades, providing great quality and customer service," said Art Miles, President, Easi-Set Worldwide. "We're proud to have this company as a member of the Easi-Set family."

About Easi-Set Worldwide

Easi-Set® Worldwide, a wholly-owned subsidiary of Smith-Midland Corporation (DE), a publicly traded company (OTCQX: SMID), licenses the production and sale of proprietary precast products around the world. For more information on J-J Hooks or precast product licensing opportunities, please call (540) 439-8911 or visit www.jjhooks.com or www.EasiSet.com.
Contact:
Media, Licensing and Sales Inquiries:
Easi-Set Worldwide
info@easiset.com
(540) 439-8911
http://finance.yahoo.com/news/j-j-hooks-safety-barrier-121000469.html

Profile: Smith-Midland Corporation (OTCQX: SMID)
http://finance.yahoo.com/q/pr?s=SMID+Profile
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littlefish littlefish 8 years ago
Another positive, just noticed malfunction junction and the Columbia spot mentioned would be relatively close by the facility. Hope the company gets up and running to get tied in with big players on the construction side there.

Grenville is on far side of Columbia from plant but not too terribly far away.
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littlefish littlefish 8 years ago
Thx for the share, kind of following what several states are finally doing. These things tend to take time to get funded and worked out more clearly/released to specific projects but certainly will be helpful. Also lowering the threshold to $25 mill projects may provide for more muni type work projects vs the big highway type stuff.

Looks like the long winter in infrastructure companies is finally over. Spring thaw has started, now we could use some summer weather and patience.

As long as management can carry normal weight, we should be looking good. :)
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1center 1center 8 years ago
SC..House passes amended road-funding, DOT reform bill
COLUMBIA β€” The House has passed and amended a Senate bill that would mean $4 billion for work on South Carolina's crumbling roads and bridges as well as a new system of governance for the state's highway agency....

http://www.greenvilleonline.com/story/news/politics/2016/05/24/house-gives-key-approval-road-funding-dot-reform-bill/84871172/
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littlefish littlefish 8 years ago
Ya South Carolina has some potentials going thru. Georgia and North Carolina have already picked up the slack along with Virginia so hopefully SC gets going, especially with FAST Act $ being more available for 2017 on. North Carolina fast tracking some major highway projects is probably what led to this JJ Hook order they're running out of Hopkins (Columbia).

Don't expect much from these guys (SMID) early on, they're not the tightest ship nor the most aware when it comes to business sense.

But if you're patient I think it makes sense to build some on weakness moving forward. This should be a rising boat in a tide that has meaningfully started to change. I have a fair amount of my port in targeted positions for infrastructure and housing so hopefully this momentum continues for awhile.

All IMO only.

PS- Thanx for the info.
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1center 1center 8 years ago
Your response greatly appreciated, hopefully they do well
and have some solid steady growth over time...


Bill to borrow $2 billion for SC roads going to House floor
By Associated Press
Published: May 18, 2016, 8:06 pm

COLUMBIA, S.C. (AP) β€” A bill that would allow South Carolina to borrow more than $2 billion for bridge repairs and interstate expansion is heading to the House floor.
The House Ways and Means Committee unanimously approved a bill Wednesday that combines new money passed by the Senate with changes in how the board that runs the state Department of Transportation is appointed.
Committee Chairman Brian White says he hopes the House will take up the bill early next week. He says there aren’t too many changes, so he hopes senators can get something done before the legislative session ends June 2.
The bill uses $200 million in fees and sales tax on vehicles to borrow $2 billion over 10 years. The DOT says it can use other money to repave secondary roads.

http://counton2.com/2016/05/18/bill-to-borrow-2-billion-for-sc-roads-going-to-house-floor/
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littlefish littlefish 8 years ago
It's actually just east of Columbia. There are 2 parcels, both about 20 acres. As far as why they are leasing, I'm not too sure although it might be so they could get working on the barrier contract before ithe purchase could close.

The place they have in Raleigh is pretty small and we are talking about a multimillion dollar barrier order (storage alone might preclude Raleigh from something that size if customer didn't pick it up but not sure).

Supposedly it was going to close fairly soon. Hopefully they PR it if they do close on it.

It's an existing facility, I think built around 1980 or so. By purchasing the place they retain the asset. It's almost 40 acres counting both parcels. One parcel is mostly treed still but the facility parcel is mostly cleared in back. It's right off the highway so should b decent for accessing different routes for trucks. The main facility also has good overhead clearance of about 30+ feet and I think the overhead cranes were still in place.

If they can do a better job with pricing going forward I think they have nice potential. So far, it seems their pricing power is lagging but it is early in the cycle.

All IMO only.
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swampboots swampboots 8 years ago
Nice buys in .30's
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1center 1center 8 years ago
Hi littlefish, I was wondering if $SMID was acquiring an existing business in Columbia SC or have they been
building the plant/facility on this property?
And what do they gain by purchasing the property, I guess what I mean is, does their lease restrict them in some form.


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The new State and National highway construction bills that have been passed recently have resulted in a significant amount of sales orders, helping to generate our $20 million backlog for the next 12 months. This includes a $3.5 million barrier order currently in production at the Columbia Precast Plant under a lease agreement with the current owner until the purchase closes. Closing is expected within three weeks. This barrier order will help kick-start the upcoming purchase of the Columbia, South Carolina plant which will further our expansion into the Southeast region of the United States.
http://finance.yahoo.com/news/smc-announces-financial-results-three-203900207.html

Bought some shares 2.30s last week liking what I see so far

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swampboots swampboots 8 years ago
SMID: 2.53- a niche of conviction is waving its fury.
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swampboots swampboots 8 years ago
SMID: Nice to see it come in for its weekly massage.
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littlefish littlefish 8 years ago
Ah that post was actually referencing a different company.

On SMID though, yes they are caught in a bit of lag between meaningfully upping prices on their biggest precast selling products and having higher input cost. They're running the company a bit backwards IMO (employee raises and hiring first, raise prices later) but that's part of the process of investing in micros LOL.

They do have a widening footprint which I think will help them given the outlook heading out a few years in many of the states from Virginia down south through Georgia. But they're taking a few bumps near term that probably shouldn't have been as big if they'd been more aggressive on price point.

Guess they have a few potential rental contracts they are eying nearish term (probably the political conventions, not sure what else). Aggregate and cement prices are not going back down IMO so they should start living with passing those input costs directly onto customers and while at it realign margins to make things more comfortably profitable.

On the positive operational side, they did keep SG&A in check with the ramp up in revs so that should help revenues drop more to bottom line earnings as time goes on and as they get a little more pricing power.

The turn is happening slower than I wanted at precast level here as far as earnings and pricing given demand is strong and getting stronger IMO but it is coming.

Obviously backlog is very healthy and I believe a record at $20+ million. Would be nice to know how much overhead cost may have been involved with Hopkins but I didn't see a breakdown of that.

They're slow but they'll get there...

All IMO only.
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jbaxter jbaxter 8 years ago
Loss of 2 cents, much better than last year, but I had thought that they would have a small profit. You might be right about needing a year to get their act together, and expenses in-line.
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littlefish littlefish 8 years ago
Oops OT: Don't be so quick to be a spectator. ;)

I think 2017-2018 will be more the time to watch the sparks as I don't think the show (game?) has started yet.
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