Simpson Manufacturing Co, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 27,550 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $58.50, for a total transaction of $1,611,675.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Simpson Manufacturing Co, Inc. (SSD) traded up $1.31 during trading on Monday, hitting $57.51. 315,861 shares of the stock were exchanged, compared to its average volume of 284,546. Simpson Manufacturing Co, Inc. has a fifty-two week low of $39.82 and a fifty-two week high of $61.62. The stock has a market capitalization of $2,623.69, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 4.21 and a beta of 1.54.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, February 5th. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.10). Simpson Manufacturing had a return on equity of 9.64% and a net margin of 9.48%. The business had revenue of $231.68 million for the quarter, compared to analysts’ expectations of $224.47 million. During the same period in the previous year, the company earned $0.37 EPS. Simpson Manufacturing’s quarterly revenue was up 15.7% compared to the same quarter last year. sell-side analysts anticipate that Simpson Manufacturing Co, Inc. will post 2.67 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP grew its holdings in shares of Simpson Manufacturing by 6.8% in the third quarter. Royce & Associates LP now owns 792,625 shares of the construction company’s stock valued at $38,870,000 after purchasing an additional 50,380 shares during the period. Nuance Investments LLC grew its holdings in shares of Simpson Manufacturing by 10.8% in the third quarter. Nuance Investments LLC now owns 153,932 shares of the construction company’s stock valued at $7,549,000 after purchasing an additional 15,047 shares during the period. Shelton Capital Management purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $209,000. Bank of New York Mellon Corp grew its holdings in shares of Simpson Manufacturing by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,396 shares of the construction company’s stock valued at $82,005,000 after purchasing an additional 120,489 shares during the period. Finally, HAP Trading LLC purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $1,330,000. 88.51% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on SSD. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Friday, February 9th. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 target price on shares of Simpson Manufacturing in a report on Tuesday, January 9th. Sidoti initiated coverage on shares of Simpson Manufacturing in a report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 target price for the company. Finally, DA Davidson lowered shares of Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.75.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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