Thompson Davis Discloses 35.4% Stake in Smith-Midland
SMID is trading near its 52-week low of $21.89 (3.2% above the low).
Summary
Investment adviser Thompson Davis & Co. discloses a 35.4% beneficial ownership stake in Smith-Midland, held on behalf of clients with no voting power.
Key Events · Ownership and Investor Activity · SMID
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35.4% Beneficial Ownership Disclosed
Thompson Davis & Co., Inc. reports holding 1,897,280 shares of Smith-Midland common stock as of October 2, 2026, representing 35.4% of the class.
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Zero Voting Power
The adviser holds sole dispositive power over all shares but zero voting power, indicating the position is held on behalf of client accounts rather than for proprietary control.
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First Public Disclosure
This Amendment No. 12 to Schedule 13D is the first public disclosure of this stake; no prior timeline entry covers this ownership position.
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Stock Near 52-Week Low
The disclosure comes while Smith-Midland trades at $22.58, just above its 52-week low of $21.89, suggesting the adviser accumulated during the recent decline.
Analysis · SMID · Manufacturing
A Richmond-based investment adviser, Thompson Davis & Co., has reported beneficial ownership of 1,897,280 shares—35.4% of Smith-Midland's outstanding common stock—as of October 2, 2026. The firm holds sole dispositive power over all shares but zero voting power, indicating the position is held on behalf of client accounts rather than for proprietary control. This is the first public disclosure of this stake, and it comes while the stock trades near its 52-week low of $21.89, suggesting the adviser has accumulated a substantial position during the recent decline. The filing does not state when the shares were acquired or at what cost, so the economic conviction behind the stake is unclear.
How filings like this one have moved
In the 30 days to Oct 7, 2026, 29% of the 1648 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.62%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SMID was trading at $22.58 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $119.8M. The 52-week trading range was $21.89 to $42.15. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.