MIDLAND, VA / ACCESSWIRE / July 1, 2024 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced it has been added to the Russell 2000 index, effective at the start of trading on July 1, 2024.
"Our addition to the Russell indices is another major step forward for our Company and reflects the significant progress we have made since uplisting our stock onto NASDAQ in 2020," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland. "The Russell 2000 index is used as a primary screening tool for many investors, and we look forward to presenting our investment thesis to this broader audience."
The Russell 2000 Index measures the performance of the small-cap segment of the US equity universe and is a subset of the broader-market Russell 3000 index. Investment managers and institutional investors widely use Russell indexes for index funds and as benchmarks for active investment strategies. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.
About Smith-Midland
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.
Smith-Midland Corporation has three manufacturing facilities in Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.
Forward-Looking Statements
This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, our material weaknesses in internal controls, inflationary factors including potential recession, general business and economic conditions, our debt exposure, our high level of accounts receivables, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
Company Contact:
Stephanie Poe, CFO
540-439-3266
investors@smithmidland.com
Investor Relations:
Steven Hooser or John Beisler
Three Part Advisors, LLC
214-872-2710
SOURCE: Smith-Midland Corporation
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