Simpson Manufacturing (NYSE:SSD) Issues Earnings Results, Beats Estimates By $0.37 EPS

Simpson Manufacturing (NYSE:SSD) posted its quarterly earnings data on Monday. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37, FiscalAI reports. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million.

Simpson Manufacturing Stock Down 0.5%

SSD stock traded down $1.06 during trading hours on Monday, hitting $192.82. The company’s stock had a trading volume of 261,792 shares, compared to its average volume of 292,184. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $7.93 billion, a PE ratio of 22.60 and a beta of 1.30. Simpson Manufacturing has a 12 month low of $156.32 and a 12 month high of $213.49. The stock has a 50 day moving average price of $192.35 and a two-hundred day moving average price of $186.81.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s payout ratio is 14.07%.

Institutional Investors Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Simpson Manufacturing by 51.3% during the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock valued at $798,000 after buying an additional 1,726 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Simpson Manufacturing by 11.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock valued at $427,000 after purchasing an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Simpson Manufacturing in the 1st quarter valued at $531,000. Goldman Sachs Group Inc. increased its stake in shares of Simpson Manufacturing by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock worth $33,327,000 after purchasing an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Simpson Manufacturing by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock valued at $19,022,000 after buying an additional 12,865 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Analyst Ratings Changes

SSD has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Stephens lifted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Robert W. Baird increased their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.75.

About Simpson Manufacturing

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.