Massachusetts Financial Services Co. MA Sells 2,067 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Massachusetts Financial Services Co. MA lessened its position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 435,796 shares of the company’s stock after selling 2,067 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Smith Douglas Homes were worth $11,174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its stake in Smith Douglas Homes by 4.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after purchasing an additional 35,702 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Smith Douglas Homes by 52.8% during the fourth quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company’s stock worth $3,817,000 after buying an additional 51,419 shares during the period. Geode Capital Management LLC increased its position in shares of Smith Douglas Homes by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock valued at $2,310,000 after acquiring an additional 457 shares during the period. Stifel Financial Corp raised its stake in Smith Douglas Homes by 39.0% in the 3rd quarter. Stifel Financial Corp now owns 26,074 shares of the company’s stock worth $985,000 after acquiring an additional 7,310 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Smith Douglas Homes by 1,551.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after acquiring an additional 20,051 shares during the period.

Analyst Upgrades and Downgrades

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

Smith Douglas Homes Stock Up 1.4 %

NYSE:SDHC opened at $19.82 on Tuesday. Smith Douglas Homes Corp. has a 52 week low of $17.93 and a 52 week high of $39.50. The stock’s 50-day moving average price is $21.68 and its 200-day moving average price is $28.07. The stock has a market capitalization 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 announced its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. Sell-side analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal 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.