Simpson Manufacturing (NYSE:SSD) Stock Passes Above 200-Day Moving Average – Time to Sell?

Simpson Manufacturing Company, Inc. (NYSE:SSD)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $179.58 and traded as high as $191.19. Simpson Manufacturing shares last traded at $186.6250, with a volume of 253,565 shares traded.

Analyst Upgrades and Downgrades

SSD has been the subject of several analyst reports. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. DA Davidson increased their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Robert W. Baird increased their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Stephens increased their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Simpson Manufacturing has an average rating of “Moderate Buy” and an average price target of $214.75.

Simpson Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. The stock has a market cap of $7.62 billion, a PE ratio of 21.72 and a beta of 1.32. The stock’s 50-day moving average is $181.55 and its two-hundred day moving average is $179.62.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. On average, equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a $0.30 dividend. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC lifted its position in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after purchasing an additional 129 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Simpson Manufacturing during the fourth quarter worth about $28,000. Los Angeles Capital Management LLC bought a new position in shares of Simpson Manufacturing during the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Simpson Manufacturing in the 3rd quarter worth about $34,000. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.