Simpson Manufacturing (NYSE:SSD) Hits New 1-Year Low – Here’s Why

Simpson Manufacturing Co., Inc. (NYSE:SSD) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $154.47 and last traded at $154.91, with a volume of 29219 shares trading hands. The stock had previously closed at $157.17.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. DA Davidson cut their price objective on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday.

Simpson Manufacturing Stock Down 1.8 %

The company has a current ratio of 3.21, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.51 billion, a PE ratio of 20.32 and a beta of 1.39. The stock’s fifty day simple moving average is $166.02 and its 200-day simple moving average is $176.81.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. As a group, sell-side analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.74%.

Insider Buying and Selling

In related news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the transaction, the executive vice president now directly owns 8,810 shares of the company’s stock, valued at approximately $1,497,523.80. The trade was a 10.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Simpson Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Simpson Manufacturing by 16.8% during the fourth quarter. GAMMA Investing LLC now owns 444 shares of the construction company’s stock valued at $74,000 after buying an additional 64 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Simpson Manufacturing by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,305 shares of the construction company’s stock worth $216,000 after purchasing an additional 64 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Simpson Manufacturing by 2.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,809 shares of the construction company’s stock worth $447,000 after purchasing an additional 70 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Simpson Manufacturing by 1.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,281 shares of the construction company’s stock worth $1,042,000 after purchasing an additional 88 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Simpson Manufacturing by 53.4% during the fourth quarter. V Square Quantitative Management LLC now owns 273 shares of the construction company’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.