SMIT - Schmitt Industries, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
2.4501
+0.0401 (+1.66%)
As of 10:11AM EDT. Market open.
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Previous Close2.4100
Open2.4501
Bid2.4500 x 800
Ask3.0000 x 800
Day's Range2.4501 - 2.5200
52 Week Range1.8700 - 4.1500
Volume206
Avg. Volume23,646
Market Cap10.184M
Beta (5Y Monthly)0.83
PE Ratio (TTM)2.50
EPS (TTM)0.9800
Earnings DateJan 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 22, 1994
1y Target EstN/A
  • SCHMITT PROVIDES COVID-19 UPDATE AND SUPPORT PLANS
    GlobeNewswire

    SCHMITT PROVIDES COVID-19 UPDATE AND SUPPORT PLANS

    Schmitt Industries, Inc. (SMIT) (the “Company” or “Schmitt”), in response to the current economic and market conditions due to the COVID-19 pandemic, made the following announcements. First, Schmitt has implemented COVID-19 response and business continuity plans to protect its employees and their families, to safeguard continuity of Schmitt operations, and to ensure full support to its customers and partners. Although Schmitt anticipates revenue pressure on their business lines, Schmitt believes that its strong backlog and steady revenue from Xact’s internet of things (IoT) monitoring will support revenue and operations over the coming months.

  • Schmitt Industries Announces Delay of Delisting and Deregistration of its Common Stock
    GlobeNewswire

    Schmitt Industries Announces Delay of Delisting and Deregistration of its Common Stock

    PORTLAND, Ore., Feb. 19, 2020 (GLOBE NEWSWIRE) --  Schmitt Industries, Inc. (SMIT) (the “Company” or “Schmitt”) today announced it will delay the delisting and deregistration of its common stock (the “Common Stock”) from the NASDAQ Stock Market (“NASDAQ”). Accordingly, the Company has not filed a Form 25 with the Securities Exchange Commission and for the time being the Company’s Common Stock will continue to trade on NASDAQ.

  • Schmitt Industries Announces Intention to Delist and Deregister Its Common Stock
    GlobeNewswire

    Schmitt Industries Announces Intention to Delist and Deregister Its Common Stock

    Schmitt Industries, Inc. (SMIT) (the “Company” or “Schmitt”) today announced its intention to delist its common stock from the NASDAQ Stock Market (“NASDAQ”) and list on the OTC Pink Market. Management and the board of directors are committed to maintaining transparency and accountability and, following the delisting, the Company will continue to file audited financials, disclose material news and report insider transactions. SMIT’s current shareholders will remain shareholders of the Company.

  • Schmitt Announces Second Quarter 2020 Operating Results and CFO Appointment
    GlobeNewswire

    Schmitt Announces Second Quarter 2020 Operating Results and CFO Appointment

    PORTLAND, Ore., Jan. 15, 2020 -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced its operating results for the second quarter of Fiscal.

  • Schmitt Industries Announces CFO Resignation
    GlobeNewswire

    Schmitt Industries Announces CFO Resignation

    Schmitt Industries, Inc. (SMIT) (the “Company” or “Schmitt”) announced today that Regina Walker has tendered her resignation as Chief Financial Officer of the Company, effective January 15, 2020. Ms. Walker is leaving Schmitt to pursue an executive position at a private, Washington based company.

  • Schmitt Industries and Directors Acquire 509,331 Shares of SMIT
    GlobeNewswire

    Schmitt Industries and Directors Acquire 509,331 Shares of SMIT

    PORTLAND, Ore., Dec. 18, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced that the Company, together with three directors.

  • Schmitt Industries: A Bargain Under the Christmas Tree
    IPO-Edge.com

    Schmitt Industries: A Bargain Under the Christmas Tree

    By PickYourSpots  Activist investors often advocate for change, but some roll-up their sleeves and get it done. Since Sententia Capital’s Michael Zapata took over the board of small-cap Schmitt Industries, Inc. (Nasdaq:SMIT) one year ago, the Portland-based industrial firm has rapidly transformed from a sleepy family business into a potential gold mine for value investors. […]

  • Schmitt Industries Announces $2M Stock Repurchase Plan
    GlobeNewswire

    Schmitt Industries Announces $2M Stock Repurchase Plan

    PORTLAND, Ore., Dec. 03, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced that its Board of Directors authorized a share repurchase.

  • Schmitt Industries Completes Sale of SBS Business Line for $10.5 Million
    GlobeNewswire

    Schmitt Industries Completes Sale of SBS Business Line for $10.5 Million

    Schmitt Industries, Inc. (“Schmitt” or the “Company”) (SMIT) today announced that it has closed on the sale of its Schmitt Dynamic Balance Systems (“SBS”) business line to Tosei Engineering Corp. and Tosei America, Inc. (collectively “Tosei”), for a purchase price of $10.5 million in cash, subject to customary post-closing adjustments. In conjunction with the sale, Tosei has entered into a 10-year triple net lease of Schmitt’s 28th Avenue manufacturing facility. The sale aligns the SBS team and business line with a dedicated strategic partner and unlocks significant value for shareholders.

  • Schmitt Industries Announces CFO Appointment
    GlobeNewswire

    Schmitt Industries Announces CFO Appointment

    Schmitt Industries, Inc. (SMIT) (the “Company” or “Schmitt”) is pleased to announce the appointment of Regina (“Gina”) Walker, CPA ("Ms. Walker"), as Chief Financial Officer (“CFO”) of the Company, effective immediately. “I am excited to welcome Gina to the Schmitt team. Most of all, her performance-driven philosophy aligns with Schmitt’s shift to a strong performance-based culture, and her reputation for execution and results makes her the right choice to lead our financial organization,” said Michael Zapata, Schmitt’s CEO.

  • Schmitt Industries Reaches Agreement to Sell SBS Business Line for $10.5M
    GlobeNewswire

    Schmitt Industries Reaches Agreement to Sell SBS Business Line for $10.5M

    Schmitt Industries, Inc. (“Schmitt”) (SMIT) today announced that it has entered into a definitive agreement to sell its Schmitt Dynamic Balance Systems (“SBS”) business line to Tosei Engineering Corp. and Tosei America, Inc. (collectively “Tosei”), for a purchase price of $10.5 million in cash, subject to customary closing adjustments. The transaction, which was approved by Schmitt’s Board of Directors, is expected to close in the fourth quarter of calendar year 2019 following a 30-day go shop period. Michael Zapata, Chairman and CEO of Schmitt, commented, “This transaction is the result of the management team’s focused work to show the potential of the SBS business line.

  • Schmitt Announces Positive First Quarter 2020 Operating Results and Annual Shareholders Meeting
    GlobeNewswire

    Schmitt Announces Positive First Quarter 2020 Operating Results and Annual Shareholders Meeting

    PORTLAND, Ore., Oct. 08, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced its operating results for the first quarter of Fiscal.

  • What Percentage Of Schmitt Industries, Inc. (NASDAQ:SMIT) Shares Do Insiders Own?
    Simply Wall St.

    What Percentage Of Schmitt Industries, Inc. (NASDAQ:SMIT) Shares Do Insiders Own?

    If you want to know who really controls Schmitt Industries, Inc. (NASDAQ:SMIT), then you'll have to look at the makeup...

  • GuruFocus.com

    Schmitt Industries Inc (SMIT) Files 10-K for the Fiscal Year Ended on May 31, 2019

    Schmitt Industries Inc (SMIT) files its latest 10-K with SEC for the fiscal year ended on May 31, 2019. Continue reading...

  • Schmitt Industries Announces Xact and Tank Utility Partnership
    GlobeNewswire

    Schmitt Industries Announces Xact and Tank Utility Partnership

    Schmitt Industries, Inc. (SMIT) today announced  its Xact™ Tank Monitoring Solutions (“Xact”) business line, a leading provider of satellite-connected gauge and ultrasonic readers in the Internet of Things (”IoT”) environment, has partnered with Tank Utility, Inc. (“Tank Utility”), a leading provider of cellular-connected IoT tank monitoring and logistics optimization services, to offer Xact gauge readers to Tank Utility customers. Through this strategic partnership, Xact and Tank Utility can offer an industry-leading package of tank monitoring products and related monitoring services to the delivered fuels market, regardless of where customers’ tanks are located.

  • Schmitt Industries Announces ManagementaAnd Governance Updates
    GlobeNewswire

    Schmitt Industries Announces ManagementaAnd Governance Updates

    Schmitt Industries, Inc. (SMIT) today announced that its Board of Directors (the “Board”) has appointed Mr. Michael Zapata as the President and Chief Executive Officer (“CEO”) of Schmitt Industries. Mr. Zapata, who has served as President and Executive Chairman since November 2018, will continue to focus his efforts on strengthening and growing Schmitt’s world-class businesses with the Schmitt team.

  • Schmitt Industries Announces Fiscal 2019 Operating Results
    GlobeNewswire

    Schmitt Industries Announces Fiscal 2019 Operating Results

    PORTLAND, Ore., July 31, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its financial results for the fiscal year ended May 31, 2019. For the year ended May.

  • Here's Why Schmitt Industries (NASDAQ:SMIT) Might Be Better Off Without Debt
    Simply Wall St.

    Here's Why Schmitt Industries (NASDAQ:SMIT) Might Be Better Off Without Debt

    David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

  • Schmitt Industries Adopts Stockholder Rights Plan to Protect the Value of Its Net Operating Losses
    GlobeNewswire

    Schmitt Industries Adopts Stockholder Rights Plan to Protect the Value of Its Net Operating Losses

    Schmitt Industries, Inc. (SMIT) announced today that the Company’s Board of Directors (the “Board”) has adopted a stockholder rights plan in an effort to protect its net operating loss carryforwards (“NOLs”) under Section 382 of the Internal Revenue Code. As of May 31, 2018, Schmitt had federal and state NOLs of approximately $4.2 million and $4.7 million, respectively, which could be used in certain circumstances to offset Schmitt’s future taxable income or otherwise payable taxes and therefore reduce its federal and state income tax liabilities. Schmitt’s plan is similar to plans adopted by numerous other public companies with NOLs.

  • Schmitt Industries Appoints Steven Strom to Its Board
    GlobeNewswire

    Schmitt Industries Appoints Steven Strom to Its Board

    Schmitt Industries, Inc. (SMIT) today announced the appointment of Steven Strom as the fifth member of the Company’s Board of Directors (the “Board”) effective June 21, 2019. Steven Strom is an “independent director” according to the rules of the Securities and Exchange Commission and the NASDAQ Stock Market and his appointment creates a majority of independent directors on the Board in compliance with NASDAQ requirements. Steven Strom is the founder of Odinbrook Global Advisors and has more than thirty years of experience advising companies in the US, Canada, Latin America, Europe and Asia. Mr. Strom focuses on providing expert advice to clients to develop restructuring strategies and implement solution transactions.

  • Introducing Schmitt Industries (NASDAQ:SMIT), The Stock That Dropped 21% In The Last Five Years
    Simply Wall St.

    Introducing Schmitt Industries (NASDAQ:SMIT), The Stock That Dropped 21% In The Last Five Years

    The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results...

  • Schmitt Industries Announces Industry Survey Results
    GlobeNewswire

    Schmitt Industries Announces Industry Survey Results

    Schmitt Industries, Inc. (SMIT) today announced results from a recent survey the Company conducted regarding its Schmitt Dynamic Balance System® (“SBS”) product line and the Company’s service in the grinding industry. Further, customers value responsive service to reduce down time and to optimize machine performance. As a partner with many grinding customers, SBS products are sold to machine tool manufacturers (OEMs), machine tool rebuilders and grinding machine customers worldwide.

  • Schmitt Industries Announces Relaunch of Xact Website
    GlobeNewswire

    Schmitt Industries Announces Relaunch of Xact Website

    PORTLAND, Ore., April 16, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced the relaunch of the Xact® website. Xact, part of the Schmitt Industries family of.

  • Schmitt Industries Announces Third Quarter Fiscal 2019 Operating Results
    GlobeNewswire

    Schmitt Industries Announces Third Quarter Fiscal 2019 Operating Results

    PORTLAND, Ore., April 10, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced its operating results for the third quarter of Fiscal.

  • Schmitt Industries Announces Promotion and Expansion Plans for Schmitt Europe Limited
    GlobeNewswire

    Schmitt Industries Announces Promotion and Expansion Plans for Schmitt Europe Limited

    Schmitt Industries, Inc. (SMIT) today announced promotion and expansion plans for Schmitt Europe Limited (SEL), which will further position the company with its focus on the European grinding market. Tim Wood has accepted the role of SEL General Manager.  Mr. Wood is a chartered mechanical engineer and has worked with SEL since 2001 as an International Sales Manager.  With this promotion, Mr. Wood will be responsible for working with the entire European team to ensure a focused and successful direction.