Simpson Manufacturing (NYSE:SSD) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird raised their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an outperform rating in a research report on Thursday, April 18th.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $173.61 on Wednesday. Simpson Manufacturing has a 1-year low of $117.08 and a 1-year high of $218.38. The company has a current ratio of 3.77, a quick ratio of 2.11 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $7.37 billion, a PE ratio of 21.76 and a beta of 1.30. The firm’s 50 day simple moving average is $195.70 and its 200 day simple moving average is $179.30.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). The business had revenue of $530.58 million for the quarter, compared to the consensus estimate of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. Simpson Manufacturing’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. As a group, analysts expect that Simpson Manufacturing will post 8.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $192.48, for a total transaction of $179,776.32. Following the transaction, the director now directly owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the sale, the executive vice president now directly owns 28,764 shares in the company, valued at $5,697,573.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,784 shares of company stock valued at $770,924. 0.42% of the stock is owned by insiders.

Institutional Trading of Simpson Manufacturing

A number of institutional investors have recently bought and sold shares of the stock. K.J. Harrison & Partners Inc purchased a new stake in shares of Simpson Manufacturing in the first quarter worth approximately $1,026,000. Conestoga Capital Advisors LLC raised its position in Simpson Manufacturing by 0.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,378,365 shares of the construction company’s stock valued at $282,813,000 after purchasing an additional 5,297 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Simpson Manufacturing by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the construction company’s stock valued at $2,524,000 after acquiring an additional 300 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in Simpson Manufacturing during the first quarter valued at approximately $908,000. Finally, Hunter Perkins Capital Management LLC bought a new stake in Simpson Manufacturing during the 1st quarter valued at $1,340,000. 93.68% of the stock is currently owned by 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.