Smith Midland Corp (SMID.OB) is a company that develops, sells, licenses and rents precast concrete products for construction, and highway and noise barriers. The business was started in 1960 by Rodney I. Smith and his father David Smith. Today, Rodney’s son, Ashley B. smith, who has a BA in Business Administration, serves as the COO. The company works mainly in the northern United States and also licenses their precast concrete products in six countries. they also have several subsidiary companies.
Smith Midland has an excellent balance sheet, income statement and cash flow. It is a solid company and is run by professionals. William A Kenter has been the CEO since 2008 and has managed the company finances well through those tough financial years. Mr. Kenter previously served as a controller for the Mount Vernon Printing division of Consolidated Graphics, Inc. and before that was a CEO and president of another printing company.
Recently, the stock has been fluctuating between $1.30 and $2.40. One could profit by buying low and selling high in that range. It is currently on the upswing selling at $1.90. I expect it to climb back to 2.40, where it was before the recent market problems started back in May.
Sorry, comments are closed for this post.