Simpson Manufacturing Co, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 89,410 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $58.74, for a total value of $5,251,943.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Simpson Manufacturing Co, Inc. (NYSE:SSD) traded down $0.58 on Friday, hitting $55.83. The stock had a trading volume of 560,752 shares, compared to its average volume of 296,582. Simpson Manufacturing Co, Inc. has a 12 month low of $39.82 and a 12 month high of $61.62. The firm has a market capitalization of $2,641.54, a P/E ratio of 31.19, a P/E/G ratio of 4.18 and a beta of 1.54.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, February 5th. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.10). Simpson Manufacturing had a return on equity of 9.64% and a net margin of 9.48%. The firm had revenue of $231.68 million for the quarter, compared to analyst estimates of $224.47 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. analysts predict that Simpson Manufacturing Co, Inc. will post 2.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, April 4th. Simpson Manufacturing’s dividend payout ratio is currently 43.52%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in shares of Simpson Manufacturing in the third quarter worth $103,000. Riverhead Capital Management LLC increased its position in shares of Simpson Manufacturing by 62.3% in the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock worth $114,000 after purchasing an additional 996 shares during the period. SG Americas Securities LLC bought a new position in shares of Simpson Manufacturing in the second quarter worth $148,000. Shelton Capital Management bought a new position in shares of Simpson Manufacturing in the fourth quarter worth $209,000. Finally, Everence Capital Management Inc. bought a new position in shares of Simpson Manufacturing in the fourth quarter worth $229,000. Institutional investors own 83.97% of the company’s stock.
Several brokerages have issued reports on SSD. Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 price target on shares of Simpson Manufacturing in a report on Tuesday, January 9th. Sidoti began coverage on Simpson Manufacturing in a report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 price target for the company. Finally, DA Davidson downgraded Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.75.
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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