Hidden Asset Play? 'Xact'ly [Seeking Alpha]
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: Seeking Alpha
Summary Schmitt Industries, Inc. ( SMIT ) is trading at $1.68, or 30.2% of its 2017 range ($2.28-$1.42) and 14.9% of its 2016 range ($3.16-$1.42). Shares are down due to operating losses. The company recorded negative cash flow of $182K for fiscal year ended May 31, 2017, markedly improved over $820K in fiscal 2016. Annual sales rose 6% in 2017 to $12.4 million vs. $11.7 million in 2016. Better working capital control was achieved by recently appointed senior management. On August 15th, the company released its 2017 SEC form 10-K . Share Ownership There are large holders of the common stock, but none have absolute control. Ownership summary from SEC form DEF 14-A follows: 13.0% Directors and Executive Officers 17.0% Walter Brown Pistor 9.5% Monongahela Capital Management 5.5% Buttonwood Tree Value Partners Also, as of June 30, 2017, the following holders filed ownership positions: 4.4% Renaissance Technologies 3.8% GRT Capital Partners 2
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