Shimmick Corporation awarded two contracts for transportation projects in California and Washington, enhancing mobility and supporting regional growth.
Quiver AI Summary
Shimmick Corporation, a leader in complex infrastructure solutions, has been awarded two significant contracts for transportation projects: the Santa Monica Pier Bridge Replacement Project in California and the Renton Transit Center Project in Washington. The Santa Monica project, valued at $29.6 million, involves replacing the historic Colorado Avenue Bridge to improve access to the Santa Monica Pier while preserving key historical elements. Construction is set to begin in late 2025 and aims for completion before the 2028 Los Angeles Summer Olympics. The Renton project, worth $48.2 million, will enhance transit facilities in the Puget Sound area, featuring a modern transit center and infrastructure for Battery Electric Buses, aimed at improving commuter mobility and sustainability. Both projects emphasize Shimmick's commitment to building resilient and sustainable infrastructure that benefits local communities.
Potential Positives
- Shimmick Corporation has secured two significant contracts for critical transportation projects, enhancing its reputation as a leader in infrastructure solutions.
- The Santa Monica Pier Bridge Replacement Project emphasizes Shimmick's commitment to preserving historic landmarks while improving community mobility.
- The Renton Transit Center project supports sustainable transportation initiatives and is aligned with regional growth objectives, particularly ahead of major global events like the 2028 Los Angeles Summer Olympics.
- These projects are expected to create lasting value for communities by improving safety, connectivity, and mobility in key areas.
Potential Negatives
- Potential project delays or difficulties could arise due to the complexity of replacing an 85-year-old bridge and meeting deadlines for the upcoming 2028 Los Angeles Summer Olympics.
- Dependence on successful execution of these contracts may place financial pressure on Shimmick during project delivery, affecting cash flow and profitability if unforeseen challenges occur.
- Any negative public or media perception surrounding large infrastructure projects may impact Shimmick's reputation, especially if issues arise during construction that affect the community.
FAQ
What are the new projects awarded to Shimmick Corporation?
Shimmick has been awarded the Santa Monica Pier Bridge Replacement Project and the Renton Transit Center Project.
How much is the budget for the Santa Monica Pier Bridge Replacement?
The budget for the Santa Monica Pier Bridge Replacement Project is $29.6 million.
When is the expected completion date for the Santa Monica Pier project?
The project is expected to be completed before the Los Angeles 2028 Summer Olympics.
What improvements will be made at the Renton Transit Center?
The Renton Transit Center will feature a new bus bay island, a custom steel canopy, and roadway improvements.
How does Shimmick's work support sustainable transportation?
Shimmick integrates infrastructure solutions that advance sustainable transit and improve community mobility.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SHIM Insider Trading Activity
$SHIM insiders have traded $SHIM stock on the open market 102 times in the past 6 months. Of those trades, 0 have been purchases and 102 have been sales.
Here’s a breakdown of recent trading of $SHIM stock by insiders over the last 6 months:
- MITCHELL B. GOLDSTEEN has made 0 purchases and 98 sales selling 396,692 shares for an estimated $778,772.
- CAROLYN TRABUCO has made 0 purchases and 4 sales selling 12,732 shares for an estimated $21,372.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SHIM Hedge Fund Activity
We have seen 4 institutional investors add shares of $SHIM stock to their portfolio, and 15 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GILDER GAGNON HOWE & CO LLC removed 35,547 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $63,984
- CITADEL ADVISORS LLC removed 27,596 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $49,672
- GOLDMAN SACHS GROUP INC removed 12,814 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $23,065
- HRT FINANCIAL LP removed 12,756 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,960
- E&G ADVISORS, LP removed 10,600 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $19,080
- THOMPSON DAVIS & CO., INC. added 10,000 shares (+22.2%) to their portfolio in Q2 2025, for an estimated $17,100
- PACIFIC RIDGE CAPITAL PARTNERS, LLC removed 7,156 shares (-1.5%) from their portfolio in Q2 2025, for an estimated $12,236
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
IRVINE, Calif., Sept. 16, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, has been selected for award on two new contracts that highlight its expertise in delivering critical transportation projects: the Santa Monica Pier Bridge Replacement Project in California and the Renton Transit Center Project in Washington.
Together, these projects reinforce Shimmick’s leadership in building resilient, sustainable infrastructure that enhances community mobility, safeguards historic landmarks, and supports regional growth ahead of global events like the 2028 Los Angeles Summer Olympics.
“These two projects reflect the breadth of Shimmick’s expertise — from preserving access to one of the nation’s most iconic landmarks to building modern transit systems that support sustainable mobility,” said Ural Yal, CEO of Shimmick. “We are honored to partner with the City of Santa Monica for the first time and with Sound Transit again to deliver projects that not only improve safety and connectivity but also create lasting value for communities.”
Santa Monica Pier Bridge Replacement
Shimmick was selected for the $29.6 million Santa Monica Pier Bridge Replacement Project, which will replace the 85-year-old Colorado Avenue Bridge — the only vehicular and pedestrian access point to the iconic Santa Monica Pier. Shimmick will construct a new bridge, demolish the old one, enhance pedestrian access, and restore the historic Santa Monica Pier Arched Neon Sign while safeguarding historic assets. Work is expected to begin in the last quarter of 2025 and will take 22 months, with completion scheduled before the Los Angeles 2028 Summer Olympics.
Renton Transit Center
This $48.2 million contract by Sound Transit is for the Renton Transit Center and Roadway Improvements project in Renton, Washington. The project encompasses the construction of a state-of-the-art transit center designed to support the Puget Sound region’s growing mobility needs, including a new bus bay island with capacity for eight active bays and a custom steel canopy structure, infrastructure development for a Battery Electric Bus (BEB) equipment yard to advance sustainable transit, and roadway improvements to create a dedicated bus-only lane. This investment is expected to significantly improve commuter mobility, reduce congestion, and advance Sound Transit’s long-term sustainability goals.
About Shimmick
Shimmick (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. With a track record that spans over a century, Shimmick, headquartered in California, unites deep engineering heritage with entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit shimmick.com.
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