Simpson Manufacturing Co., Inc. (NYSE:SSD) Announces Dividend Increase – $0.26 Per Share

Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) announced a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Shareholders of record on Thursday, July 7th will be given a dividend of 0.26 per share by the construction company on Thursday, July 28th. This represents a $1.04 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, July 6th. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.25.

Simpson Manufacturing has raised its dividend by an average of 4.1% annually over the last three years and has increased its dividend every year for the last 1 years. Simpson Manufacturing has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Simpson Manufacturing to earn $7.46 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.4%.

NYSE SSD traded down $0.32 during midday trading on Monday, hitting $105.02. The company had a trading volume of 150,510 shares, compared to its average volume of 204,916. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.40 and a current ratio of 5.85. The firm has a market cap of $4.55 billion, a PE ratio of 14.73 and a beta of 1.21. The stock has a fifty day moving average of $110.99. Simpson Manufacturing has a fifty-two week low of $102.20 and a fifty-two week high of $141.26.

Simpson Manufacturing (NYSE:SSDGet Rating) last posted its quarterly earnings results on Monday, April 25th. The construction company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.51. The company had revenue of $493.57 million for the quarter, compared to analyst estimates of $476.28 million. Simpson Manufacturing had a net margin of 18.07% and a return on equity of 26.86%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. As a group, research analysts anticipate that Simpson Manufacturing will post 7.23 EPS for the current year.

Several analysts have recently weighed in on SSD shares. Sidoti upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Tuesday, February 8th. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Thursday, April 28th. StockNews.com lowered shares of Simpson Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 20th. Robert W. Baird lifted their target price on shares of Simpson Manufacturing from $136.00 to $145.00 in a research report on Tuesday, April 26th. Finally, CJS Securities upgraded shares of Simpson Manufacturing from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Buy” and a consensus price target of $139.25.

In other Simpson Manufacturing news, insider Roger Dankel sold 600 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $63,000.00. Following the transaction, the insider now directly owns 32,412 shares in the company, valued at $3,403,260. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James S. Andrasick sold 500 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $117.99, for a total transaction of $58,995.00. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in shares of Simpson Manufacturing by 0.4% in the fourth quarter. Amalgamated Bank now owns 30,966 shares of the construction company’s stock worth $4,306,000 after acquiring an additional 116 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Simpson Manufacturing by 0.4% in the fourth quarter. Legal & General Group Plc now owns 64,522 shares of the construction company’s stock worth $8,973,000 after acquiring an additional 283 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Simpson Manufacturing by 10.7% in the fourth quarter. Penserra Capital Management LLC now owns 5,497 shares of the construction company’s stock worth $604,000 after acquiring an additional 532 shares during the last quarter. LPL Financial LLC raised its stake in shares of Simpson Manufacturing by 11.1% in the fourth quarter. LPL Financial LLC now owns 8,783 shares of the construction company’s stock worth $1,221,000 after acquiring an additional 875 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Simpson Manufacturing by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 60,502 shares of the construction company’s stock worth $8,414,000 after acquiring an additional 1,358 shares during the last quarter. 91.44% of the stock is owned by institutional investors.

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.

Featured Articles

Dividend History for Simpson Manufacturing (NYSE:SSD)

Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.