Massachusetts Financial Services Co. MA Decreases Stock Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

Massachusetts Financial Services Co. MA cut its holdings in Smith Douglas Homes Corp. (NYSE:SDHC) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 435,796 shares of the company’s stock after selling 2,067 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.85% of Smith Douglas Homes worth $11,174,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in shares of Smith Douglas Homes by 52.8% in the 4th quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company’s stock worth $3,817,000 after purchasing an additional 51,419 shares during the period. Artisan Partners Limited Partnership boosted its stake in Smith Douglas Homes by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after buying an additional 35,702 shares during the period. JPMorgan Chase & Co. increased its position in Smith Douglas Homes by 1,551.9% during the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $806,000 after acquiring an additional 20,051 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Smith Douglas Homes in the third quarter valued at $591,000. Finally, Jane Street Group LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth about $530,000.

Analysts Set New Price Targets

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

Smith Douglas Homes Stock Up 1.4 %

Shares of NYSE SDHC opened at $19.82 on Tuesday. Smith Douglas Homes Corp. has a twelve month low of $17.93 and a twelve month high of $39.50. The business has a fifty day simple moving average of $21.68 and a two-hundred day simple moving average of $28.07. The firm has a market cap of $1.02 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 6.87 and a beta of 1.31.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The company had revenue of $287.49 million for the quarter, compared to analysts’ expectations of $265.85 million. On average, research analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

About Smith Douglas Homes

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.