Shares of LMI Aerospace Inc. (NASDAQ:LMIA) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.51 and last traded at $7.91, with a volume of 27,648 shares traded. The stock had previously closed at $7.83.

Several brokerages have issued reports on LMIA. Zacks Investment Research raised shares of LMI Aerospace from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Thursday, March 10th. Deutsche Bank AG decreased their price objective on shares of LMI Aerospace from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, March 10th. Finally, Noble Financial began coverage on shares of LMI Aerospace in a research note on Monday, April 11th. They issued a “buy” rating for the company.

The company’s market capitalization is $105.02 million. The firm’s 50 day moving average is $8.36 and its 200-day moving average is $8.97.

LMI Aerospace (NASDAQ:LMIA) last released its earnings results on Monday, May 9th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $87.30 million for the quarter, compared to analyst estimates of $90 million. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. On average, analysts expect that LMI Aerospace Inc. will post $0.10 EPS for the current fiscal year.

In related news, Director Ronald S. Saks sold 9,060 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $8.46, for a total transaction of $76,647.60. Following the completion of the sale, the director now owns 158,253 shares of the company’s stock, valued at approximately $1,338,820.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald S. Saks sold 11,475 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $8.48, for a total transaction of $97,308.00. Following the sale, the director now directly owns 168,788 shares of the company’s stock, valued at approximately $1,431,322.24. The disclosure for this sale can be found here.

A number of hedge funds have made changes to their positions in LMIA. Paradigm Capital Management Inc. NY boosted its stake in shares of LMI Aerospace by 72.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 478,100 shares of the company’s stock valued at $4,814,000 after buying an additional 201,211 shares in the last quarter. Rutabaga Capital Management LLC MA boosted its stake in shares of LMI Aerospace by 17.3% in the fourth quarter. Rutabaga Capital Management LLC MA now owns 754,712 shares of the company’s stock valued at $7,600,000 after buying an additional 111,449 shares in the last quarter. Finally, Royce & Associates LLC boosted its stake in shares of LMI Aerospace by 2.6% in the fourth quarter. Royce & Associates LLC now owns 1,301,942 shares of the company’s stock valued at $13,111,000 after buying an additional 33,500 shares in the last quarter.

LMI Aerospace, Inc is a supplier of structural assemblies, kits and components, and design engineering services to the aerospace and defense markets. The Company operates in two business segments consisting of its Aerostructures segment and its Engineering Services segment. Its Aerostructures segment fabricates, machines, finishes, integrates, assembles and kits machined and formed close tolerance aluminum, specialty alloy and composite components and higher level assemblies for use by the aerospace and defense industries.

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