Shares of Simpson Manufacturing Co. (NYSE:SSD) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Brokers have set a one year consensus target price of $43.33 for the company and are forecasting that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 55 out of 265 based on the ratings given to its competitors.
Several brokerages have commented on SSD. Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Sidoti began coverage on shares of Simpson Manufacturing in a research report on Friday, September 9th. They issued a “neutral” rating on the stock.
Shares of Simpson Manufacturing (NYSE:SSD) opened at 45.11 on Friday. Simpson Manufacturing has a one year low of $30.25 and a one year high of $45.50. The company has a market cap of $2.18 billion, a P/E ratio of 27.85 and a beta of 1.49. The stock’s 50 day moving average is $43.55 and its 200-day moving average is $39.92.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Simpson Manufacturing had a net margin of 9.50% and a return on equity of 9.17%. The company had revenue of $230 million for the quarter, compared to analyst estimates of $227.12 million. During the same period last year, the firm earned $0.43 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Simpson Manufacturing will post $1.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Saturday, October 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 5th. Simpson Manufacturing’s dividend payout ratio is 44.44%.
In other Simpson Manufacturing news, COO Ricardo M. Arevalo sold 3,437 shares of Simpson Manufacturing stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $44.40, for a total value of $152,602.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in Simpson Manufacturing by 135.5% in the first quarter. BlackRock Inc. now owns 3,073 shares of the company’s stock valued at $117,000 after buying an additional 1,768 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Simpson Manufacturing during the second quarter valued at $129,000. US Bancorp DE increased its position in Simpson Manufacturing by 34.3% in the second quarter. US Bancorp DE now owns 3,555 shares of the company’s stock valued at $142,000 after buying an additional 908 shares during the last quarter. Victory Capital Management Inc. increased its position in Simpson Manufacturing by 77.3% in the second quarter. Victory Capital Management Inc. now owns 3,576 shares of the company’s stock valued at $143,000 after buying an additional 1,559 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Simpson Manufacturing during the second quarter valued at $201,000. 81.48% of the stock is currently owned by institutional investors and hedge funds.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems and lateral systems used in light-frame construction. It also offers concrete construction products used for concrete, masonry, steel and for concrete repair, protection and strengthening, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforced materials.
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