|Bid||2.0400 x 1800|
|Ask||2.4700 x 4000|
|Day's Range||2.0500 - 2.0900|
|52 Week Range||2.0400 - 3.0400|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 14, 2018 - Dec 17, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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, 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.
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.
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 Inc. said Tuesday it is adopting a shareholder rights plan in an effort to protect its net operating loss carryforwards, or NOLs, which offer tax benefits. The company, which makes technology for the machine tool industry and ultrasonic-based remote tank monitoring products, said it had federal and state NOLs of about $4.2 million and $4.7 million at end May, 2018. Those NOLs can be used to offset future taxable income and reduce the company's tax liabilities. If the company were to change ownership, those NOLs would be limited. "The stockholder rights plan is intended to reduce the likelihood of an unintended ownership change occurring through the buying of Schmitt common stock and is not meant to be an anti-takeover measure," the company said in a statement. As part of the plan, the company's board has declared a dividend of one preferred-share-purchase-right for each Schmitt share owned as of July 19. From July 1, any shareholder that increases their stake to more than 4.9% of the outstanding shares would trigger the plan and the rights would separate from the common stock. "Schmitt's Board has the discretion to exempt any acquisition of Schmitt common stock from the provisions of the plan if it determines that doing so would not jeopardize or endanger Schmitt's use of its tax assets," said the statement. "Schmitt's Board also has the ability to terminate the plan prior to a triggering event, including but not limited to in connection with a transaction, if it determines that doing so would be in the best interests of Schmitt's stockholders." The rights issued under the plan will expire on July 1, 2022. Shares were not yet active premarket, but have fallen 20.2% in 2019 to date, while the S&P 500 has gained 18.3%.
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, 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.
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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.
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.
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, 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.
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PORTLAND, Oregon, Jan. 10, 2019 -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its operating results for the second quarter of Fiscal 2019. Highlights of the three.
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Schmitt Industries, Inc. (SMIT) today announced a strategic reorganization that will position the company to capitalize on the growing SBS Balancer business, while streamlining the company and maximizing shareholder value through the disposition of non-core assets. The new Schmitt structure organizes the core SBS Balancer business under Donna Witkowski, who is being promoted to SBS President.
NEW YORK, Nov. 19, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
Both of Sententia's Nominees Elected To Replace Schmitt Directors Up For Election NEW YORK , Oct. 19, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA" ...
NEW YORK, Oct. 1, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA" or "we"), the beneficial owners of approximately 8.1% of the outstanding shares of common stock of Schmitt Industries, Inc. (SMIT) ("Schmitt" or the "Company"), today announced that, in a report issued on September 28, 2018, Institutional Shareholder Services ("ISS"), one of the world's leading independent proxy advisor firm, recommended that Schmitt shareholders "WITHOLD" votes from legacy director nominee Maynard E. Brown and vote "AGAINST" approval of Schmitt's say-on-pay proposal at the Company's annual meeting scheduled to be held on Friday, October 12, 2018, in Portland, Oregon.
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NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Sententia Capital Management, LLC and its affiliates (collectively, "SENTENTIA"), the beneficial owners of approximately 8.1% of the outstanding shares of common stock of Schmitt Industries, Inc. ("Schmitt" or the "Company") (SMIT) and one of the Company's largest shareholders, announced that it has delivered a letter to fellow Schmitt shareholders. Sententia believes Schmitt is comprised of good businesses, strong brands, an attractive long-term profile, and the ability to generate strong free cash flow.