Federated Hermes Inc. Boosts Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

Federated Hermes Inc. raised its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,300 shares of the company’s stock after acquiring an additional 27,300 shares during the quarter. Federated Hermes Inc. owned approximately 1.03% of Smith Douglas Homes worth $12,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SDHC. SYSTM Wealth Solutions LLC purchased a new stake in shares of Smith Douglas Homes during the first quarter worth about $76,000. RiverPark Advisors LLC purchased a new stake in shares of Smith Douglas Homes during the second quarter worth about $120,000. Sandia Investment Management LP purchased a new stake in shares of Smith Douglas Homes during the first quarter worth about $178,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Smith Douglas Homes during the first quarter worth about $331,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Smith Douglas Homes during the first quarter worth about $565,000.

Smith Douglas Homes Price Performance

SDHC opened at $35.95 on Tuesday. Smith Douglas Homes Corp. has a 1 year low of $20.55 and a 1 year high of $38.48. The firm has a 50 day moving average price of $32.24 and a 200 day moving average price of $29.04.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $208.02 million. Smith Douglas Homes’s revenue was up 21.7% on a year-over-year basis. As a group, analysts forecast that Smith Douglas Homes Corp. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SDHC has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Finally, Bank of America boosted their price objective on shares of Smith Douglas Homes from $30.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and a consensus target price of $29.70.

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.