Smith Douglas Homes Corp. (NYSE:SDHC) Stock Holdings Lowered by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 12.1% in the 4th quarter, Holdings Channel reports. The fund owned 10,153 shares of the company’s stock after selling 1,402 shares during the period. M&T Bank Corp’s holdings in Smith Douglas Homes were worth $260,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new stake in Smith Douglas Homes in the fourth quarter worth about $27,000. Quantbot Technologies LP lifted its holdings in Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after purchasing an additional 2,738 shares during the period. Atria Investments Inc acquired a new stake in Smith Douglas Homes in the third quarter worth about $204,000. Yorktown Management & Research Co Inc acquired a new stake in Smith Douglas Homes in the fourth quarter worth about $236,000. Finally, XTX Topco Ltd acquired a new stake in Smith Douglas Homes in the third quarter worth about $246,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $22.00 in a report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Wells Fargo & Company cut their price target on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.80.

Smith Douglas Homes Stock Performance

NYSE SDHC opened at $19.64 on Friday. The stock’s 50-day moving average price is $23.02 and its two-hundred day moving average price is $29.93. Smith Douglas Homes Corp. has a 1 year low of $19.00 and a 1 year high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $287.49 million for the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. As a group, equities analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Smith Douglas Homes Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.