Simpson Manufacturing Co., Inc. (NYSE:SSD) Forecasted to Earn FY2023 Earnings of $7.46 Per Share

Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) – DA Davidson increased their FY2023 earnings estimates for shares of Simpson Manufacturing in a note issued to investors on Tuesday, April 26th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings per share of $7.46 for the year, up from their previous estimate of $7.09.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Simpson Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 13th. StockNews.com lowered Simpson Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 20th. CJS Securities raised Simpson Manufacturing from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 8th. Robert W. Baird upped their price objective on Simpson Manufacturing from $136.00 to $145.00 in a research report on Tuesday. Finally, Sidoti raised Simpson Manufacturing from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Tuesday, February 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $147.25.

Shares of NYSE SSD opened at $105.35 on Wednesday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 17.19 and a beta of 1.25. Simpson Manufacturing has a 52-week low of $102.41 and a 52-week high of $141.26. The firm has a 50 day moving average price of $112.69.

Simpson Manufacturing (NYSE:SSDGet Rating) last released its quarterly earnings data on Monday, April 25th. The construction company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.51. Simpson Manufacturing had a return on equity of 24.18% and a net margin of 16.94%. The firm had revenue of $493.57 million for the quarter, compared to analysts’ expectations of $476.28 million. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up 42.0% on a year-over-year basis.

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $117.99, for a total value of $58,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roger Dankel sold 600 shares of the company’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $113.00, for a total transaction of $67,800.00. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Simpson Manufacturing by 617.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 244 shares of the construction company’s stock worth $34,000 after buying an additional 210 shares during the period. Confluence Wealth Services Inc. acquired a new stake in shares of Simpson Manufacturing during the fourth quarter worth about $39,000. First Horizon Advisors Inc. boosted its stake in shares of Simpson Manufacturing by 75.7% during the third quarter. First Horizon Advisors Inc. now owns 355 shares of the construction company’s stock worth $35,000 after buying an additional 153 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Simpson Manufacturing by 146.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 372 shares of the construction company’s stock worth $40,000 after buying an additional 221 shares during the period. Finally, Kings Point Capital Management acquired a new stake in shares of Simpson Manufacturing during the third quarter worth about $47,000. Institutional investors own 89.18% of the company’s stock.

About Simpson Manufacturing (Get Rating)

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.

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