Short Interest in Simpson Manufacturing Co, Inc. (NYSE:SSD) Rises By 10.0%

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Simpson Manufacturing Co, Inc. (NYSE:SSD) was the recipient of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 1,430,000 shares, an increase of 10.0% from the November 14th total of 1,300,000 shares. Based on an average trading volume of 291,900 shares, the short-interest ratio is presently 4.9 days. Currently, 3.6% of the shares of the company are sold short.

Shares of SSD opened at $78.63 on Friday. The company has a current ratio of 3.83, a quick ratio of 2.37 and a debt-to-equity ratio of 0.03. Simpson Manufacturing has a 12 month low of $49.54 and a 12 month high of $85.36. The stock’s 50 day moving average is $80.99 and its two-hundred day moving average is $69.49. The firm has a market cap of $3.48 billion, a P/E ratio of 27.21 and a beta of 1.36.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Simpson Manufacturing had a return on equity of 14.76% and a net margin of 10.89%. The company had revenue of $310.00 million for the quarter, compared to analyst estimates of $290.35 million. During the same period last year, the company earned $0.95 earnings per share. Simpson Manufacturing’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts forecast that Simpson Manufacturing will post 2.95 EPS for the current year.

Several analysts recently commented on the company. ValuEngine lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. DA Davidson raised their target price on Simpson Manufacturing to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Saturday, November 2nd.

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Simpson Manufacturing by 238.1% in the third quarter. Tower Research Capital LLC TRC now owns 470 shares of the construction company’s stock valued at $33,000 after purchasing an additional 331 shares during the period. Point72 Asset Management L.P. acquired a new stake in Simpson Manufacturing in the second quarter valued at approximately $53,000. Penserra Capital Management LLC grew its holdings in Simpson Manufacturing by 25.0% in the third quarter. Penserra Capital Management LLC now owns 770 shares of the construction company’s stock valued at $53,000 after purchasing an additional 154 shares during the period. Point72 Hong Kong Ltd grew its holdings in Simpson Manufacturing by 107.5% in the second quarter. Point72 Hong Kong Ltd now owns 1,502 shares of the construction company’s stock valued at $100,000 after purchasing an additional 778 shares during the period. Finally, ETF Managers Group LLC grew its holdings in Simpson Manufacturing by 25.7% in the second quarter. ETF Managers Group LLC now owns 3,148 shares of the construction company’s stock valued at $207,000 after purchasing an additional 644 shares during the period. 91.20% of the stock is currently owned by institutional investors.

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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.

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