Simpson Manufacturing Company, Inc. (NYSE:SSD) Given Consensus Recommendation of “Hold” by Analysts

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research 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 1 year target price among brokers that have covered the stock in the last year is $216.25.

Several equities analysts recently issued reports on the company. Robert W. Baird upped their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. DA Davidson upped their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th.

Institutional Investors Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. purchased a new stake in Simpson Manufacturing during the first quarter valued at approximately $7,133,000. Cooke & Bieler LP boosted its stake in shares of Simpson Manufacturing by 77.9% during the 4th quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after acquiring an additional 56,769 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Simpson Manufacturing during the 1st quarter valued at $4,424,000. Comerica Bank grew its position in shares of Simpson Manufacturing by 21.6% during the 4th quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after acquiring an additional 21,889 shares during the period. Finally, Brown Advisory Inc. grew its position in shares of Simpson Manufacturing by 67.0% during the 4th quarter. Brown Advisory Inc. now owns 327,606 shares of the construction company’s stock valued at $52,899,000 after acquiring an additional 131,381 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 2.7%

Shares of Simpson Manufacturing stock opened at $194.53 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The stock has a market capitalization of $8.00 billion, a PE ratio of 21.26 and a beta of 1.31. Simpson Manufacturing has a 52-week low of $156.32 and a 52-week high of $213.49. The company has a 50-day simple moving average of $194.25 and a two-hundred day simple moving average of $187.99.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts anticipate that Simpson Manufacturing will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be issued 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 of this dividend is Thursday, October 1st. Simpson Manufacturing’s payout ratio is presently 13.11%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.