Simpson Manufacturing (NYSE:SSD) Trading Up 3.2%

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Simpson Manufacturing Co, Inc. (NYSE:SSD)’s share price rose 3.2% during mid-day trading on Wednesday . The stock traded as high as $55.93 and last traded at $55.53, approximately 12,354 shares changed hands during mid-day trading. A decline of 98% from the average daily volume of 504,546 shares. The stock had previously closed at $53.81.

SSD has been the topic of several research reports. Zacks Investment Research lowered Simpson Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, March 19th. Robert W. Baird dropped their target price on Simpson Manufacturing from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $82.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Simpson Manufacturing currently has an average rating of “Hold” and a consensus price target of $80.50.

The company has a current ratio of 4.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $76.52 and a two-hundred day simple moving average of $77.41. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 20.08 and a beta of 1.24.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, February 3rd. The construction company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. Simpson Manufacturing had a return on equity of 15.43% and a net margin of 11.79%. The company had revenue of $262.50 million for the quarter, compared to analyst estimates of $263.61 million. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Simpson Manufacturing Co, Inc. will post 3.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.54%. The ex-dividend date is Wednesday, April 1st. Simpson Manufacturing’s payout ratio is currently 30.87%.

In other news, Director Jennifer Chatman sold 1,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $86.61, for a total transaction of $86,610.00. Following the transaction, the director now owns 12,945 shares of the company’s stock, valued at approximately $1,121,166.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James S. Andrasick sold 1,248 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $79.45, for a total value of $99,153.60. Following the transaction, the director now directly owns 8,938 shares in the company, valued at approximately $710,124.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,898 shares of company stock worth $410,881. Insiders own 0.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Simpson Manufacturing by 27.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,605,261 shares of the construction company’s stock valued at $209,020,000 after acquiring an additional 560,605 shares during the last quarter. State Street Corp increased its holdings in shares of Simpson Manufacturing by 2.1% during the 3rd quarter. State Street Corp now owns 1,264,180 shares of the construction company’s stock valued at $87,696,000 after acquiring an additional 25,786 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Simpson Manufacturing by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 637,199 shares of the construction company’s stock valued at $51,122,000 after acquiring an additional 75,969 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Simpson Manufacturing by 55.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 607,398 shares of the construction company’s stock valued at $48,732,000 after acquiring an additional 217,128 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Simpson Manufacturing during the 4th quarter valued at about $43,836,000. 90.40% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Company Profile (NYSE:SSD)

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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