Simpson Manufacturing (NYSE:SSD) Shares Gap Down Following Weak Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s share price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $185.12, but opened at $171.98. Simpson Manufacturing shares last traded at $164.25, with a volume of 176,683 shares trading hands.

The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). The company had revenue of $530.58 million during the quarter, compared to analysts’ expectations of $549.87 million. Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share.

Wall Street Analyst Weigh In

SSD has been the topic of a number of research reports. StockNews.com lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Robert W. Baird upped their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of Simpson Manufacturing stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the transaction, the director now owns 14,638 shares in the company, valued at $2,817,522.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Phillip Burton sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The disclosure for this sale can be found here. In the last three months, insiders sold 3,784 shares of company stock valued at $770,924. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

A number of hedge funds have recently modified their holdings of SSD. Xponance Inc. lifted its position in Simpson Manufacturing by 1.1% during the 4th quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock worth $1,231,000 after acquiring an additional 67 shares during the period. CWM LLC increased its position in Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after buying an additional 108 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Simpson Manufacturing by 36.1% in the third quarter. Signaturefd LLC now owns 415 shares of the construction company’s stock worth $62,000 after acquiring an additional 110 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Simpson Manufacturing by 1.5% in the fourth quarter. Cerity Partners LLC now owns 7,662 shares of the construction company’s stock valued at $1,517,000 after acquiring an additional 112 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Simpson Manufacturing by 19.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 801 shares of the construction company’s stock valued at $120,000 after acquiring an additional 132 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Trading Down 8.6 %

The stock has a market cap of $7.19 billion, a PE ratio of 20.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63. The business has a 50-day moving average of $197.04 and a 200 day moving average of $178.93.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. 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.