Shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) have received an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Simpson Manufacturing’s rating score has declined by 133% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a one year consensus price objective of $63.33 for the company and are forecasting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 65 out of 265 based on the ratings given to related companies.
Several analysts have issued reports on the stock. Sidoti assumed coverage on shares of Simpson Manufacturing in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $66.00 price objective for the company. Zacks Investment Research raised 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. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Simpson Manufacturing in a research report on Tuesday, January 9th.
In other news, insider Roger Dankel sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $59.01, for a total transaction of $76,713.00. Following the completion of the sale, the insider now owns 60 shares of the company’s stock, valued at $3,540.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sharon H. Simpson sold 8,210 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $61.18, for a total transaction of $502,287.80. The disclosure for this sale can be found here. Insiders sold 750,783 shares of company stock valued at $44,234,197 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in SSD. Teachers Advisors LLC grew its position in shares of Simpson Manufacturing by 5.7% during the second quarter. Teachers Advisors LLC now owns 73,936 shares of the construction company’s stock worth $3,232,000 after buying an additional 3,998 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Simpson Manufacturing by 6.7% during the second quarter. California Public Employees Retirement System now owns 75,200 shares of the construction company’s stock worth $3,287,000 after buying an additional 4,700 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Simpson Manufacturing by 11.7% during the second quarter. Parametric Portfolio Associates LLC now owns 81,682 shares of the construction company’s stock worth $3,570,000 after buying an additional 8,559 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Simpson Manufacturing by 83.6% during the second quarter. Goldman Sachs Group Inc. now owns 186,142 shares of the construction company’s stock worth $8,137,000 after buying an additional 84,743 shares in the last quarter. Finally, State Street Corp grew its position in shares of Simpson Manufacturing by 4.9% during the second quarter. State Street Corp now owns 1,042,985 shares of the construction company’s stock worth $45,589,000 after buying an additional 49,092 shares in the last quarter. 83.97% of the stock is owned by institutional investors and hedge funds.
Simpson Manufacturing (SSD) opened at $57.45 on Tuesday. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $61.62. The company has a market cap of $2,704.45, a P/E ratio of 31.93, a P/E/G ratio of 4.28 and a beta of 1.55.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 5th. The construction company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.64%. The business had revenue of $231.68 million during the quarter, compared to analysts’ expectations of $224.47 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. analysts forecast that Simpson Manufacturing will post 2.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 5th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, April 4th. Simpson Manufacturing’s dividend payout ratio (DPR) is 43.52%.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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