Simpson Manufacturing (NYSE:SSD) Sets New 52-Week High – Here’s Why

Simpson Manufacturing Company, Inc. (NYSE:SSD) reached a new 52-week high on Thursday . The stock traded as high as $213.49 and last traded at $212.4840, with a volume of 29006 shares. The stock had previously closed at $206.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. DA Davidson increased their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Robert W. Baird lifted their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Stephens raised 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $214.75.

Simpson Manufacturing Price Performance

The stock has a 50 day moving average price of $189.15 and a two-hundred day moving average price of $182.97. 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 company has a market capitalization of $8.63 billion, a PE ratio of 24.58 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the previous year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio is presently 13.60%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSD. ValueAct Holdings L.P. raised its holdings in shares of Simpson Manufacturing by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after purchasing an additional 264,200 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Simpson Manufacturing by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock valued at $141,826,000 after buying an additional 31,744 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Simpson Manufacturing by 0.5% during the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after buying an additional 4,168 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Simpson Manufacturing by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock worth $123,603,000 after buying an additional 6,869 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Simpson Manufacturing by 11,044.7% during the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after acquiring an additional 672,402 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.