Simpson Manufacturing Company, Inc. (NYSE:SSD) Stock Has Consensus Price Target of $207.00

Simpson Manufacturing Company, Inc. (NYSE:SSD) has earned a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $207.00.

SSD has been the topic of a number of recent analyst reports. Stephens decreased their price objective on shares of Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating on the stock in a research note on Tuesday, October 27th. DA Davidson lowered their price objective on shares of Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating for the company in a research report on Tuesday, October 27th. Robert W. Baird upped their target price on Simpson Manufacturing from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 27th. Stifel Nicolaus reduced their target price on Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th.

Simpson Manufacturing Price Performance

SSD stock traded down $1.11 during mid-day trading on Friday, hitting $197.66. The stock had a trading volume of 240,787 shares, compared to its average volume of 361,255. The company has a current ratio of 3.37, a quick ratio of 2.20 and a debt-to-equity ratio of 0.14. Simpson Manufacturing has a 52 week low of $156.32 and a 52 week high of $213.49. The firm has a market capitalization of $8.01 billion, a P/E ratio of 21.37 and a beta of 1.35. The firm has a fifty day simple moving average of $181.61 and a 200 day simple moving average of $186.25.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, October 26th. The construction company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.24. Simpson Manufacturing had a net margin of 15.62% and a return on equity of 18.23%. The company had revenue of $638.13 million during the quarter, compared to the consensus estimate of $624.39 million. During the same quarter in the prior year, the firm posted $2.58 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Simpson Manufacturing will post 9.34 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 28th. Investors of record on Thursday, January 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, January 7th. Simpson Manufacturing’s dividend payout ratio is currently 12.97%.

Simpson Manufacturing announced that its Board of Directors has authorized a stock repurchase program on Monday, October 26th that allows the company to repurchase $1 billion in shares. This buyback authorization allows the construction company to buy up to 13.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Simpson Manufacturing news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the transaction, the chief executive officer owned 51,398 shares in the company, valued at $8,883,630.32. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SSD. BlackRock Inc. acquired a new stake in shares of Simpson Manufacturing in the 2nd quarter valued at approximately $862,138,000. State Street Corp grew its holdings in shares of Simpson Manufacturing by 2.9% during the 2nd quarter. State Street Corp now owns 1,308,394 shares of the construction company’s stock valued at $273,910,000 after purchasing an additional 37,206 shares during the last quarter. Quantinno Capital Management LP increased its position in Simpson Manufacturing by 0.5% during the 1st quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock worth $147,236,000 after purchasing an additional 4,168 shares in the last quarter. Maren Capital LLC increased its position in Simpson Manufacturing by 0.5% during the 2nd quarter. Maren Capital LLC now owns 513,029 shares of the construction company’s stock worth $107,403,000 after purchasing an additional 2,639 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Simpson Manufacturing by 1.9% during the 3rd quarter. First Trust Advisors LP now owns 594,892 shares of the construction company’s stock worth $101,655,000 after purchasing an additional 11,369 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co., Inc. designs, manufactures and sells structural building products and construction solutions, primarily through its Simpson Strong-Tie brand. Its products are used in residential, commercial and industrial construction, as well as in repair and retrofit projects. The company’s offerings include connectors and fasteners, anchors and adhesives, engineered lateral-force-resisting systems, and prefabricated building components. It also provides construction-related software and services to support the design and installation of its products.