Shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) have received an average broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. Simpson Manufacturing’s rating score has declined by 16.5% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 12-month consensus price objective of $63.33 for the company and are forecasting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 23 out of 265 based on the ratings given to related companies.
Several analysts have recently weighed in on SSD shares. DA Davidson downgraded Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Thursday, December 14th. Sidoti initiated coverage on shares of Simpson Manufacturing in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 price target on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, January 9th. Finally, Zacks Investment Research cut shares of Simpson Manufacturing from a “hold” rating to a “strong sell” rating in a research report on Friday, February 2nd.
In other news, major shareholder Sharon H. Simpson sold 76,803 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $58.28, for a total transaction of $4,476,078.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sharon H. Simpson sold 5,600 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $58.10, for a total transaction of $325,360.00. The disclosure for this sale can be found here. Insiders have sold 792,553 shares of company stock worth $46,556,541 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its holdings in Simpson Manufacturing by 360.2% in the fourth quarter. Baker Avenue Asset Management LP now owns 988,367 shares of the construction company’s stock worth $56,742,000 after acquiring an additional 773,587 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Simpson Manufacturing by 16.7% in the third quarter. Janus Henderson Group PLC now owns 1,941,044 shares of the construction company’s stock worth $95,189,000 after acquiring an additional 277,496 shares during the last quarter. Tinicum Inc lifted its holdings in Simpson Manufacturing by 4,007.5% in the fourth quarter. Tinicum Inc now owns 205,375 shares of the construction company’s stock worth $11,791,000 after acquiring an additional 200,375 shares during the last quarter. BlackRock Inc. lifted its holdings in Simpson Manufacturing by 3.4% in the fourth quarter. BlackRock Inc. now owns 5,640,565 shares of the construction company’s stock worth $323,825,000 after acquiring an additional 184,669 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Simpson Manufacturing by 2,675.3% in the fourth quarter. Victory Capital Management Inc. now owns 185,863 shares of the construction company’s stock worth $10,671,000 after acquiring an additional 179,166 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Simpson Manufacturing (SSD) opened at $58.22 on Tuesday. The firm has a market capitalization of $2,709.59, a PE ratio of 30.17, a PEG ratio of 4.35 and a beta of 1.54. Simpson Manufacturing has a 52 week low of $39.82 and a 52 week high of $61.62.
Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, February 5th. The construction company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.10). The business had revenue of $231.68 million for the quarter, compared to analyst estimates of $224.47 million. Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.64%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. research analysts forecast that Simpson Manufacturing will post 2.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, April 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. Simpson Manufacturing’s payout ratio is 43.52%.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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