Simpson Manufacturing (NYSE:SSD) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, Robert W. Baird raised their price target on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, April 18th.

Simpson Manufacturing Trading Up 0.2 %

SSD opened at $169.56 on Wednesday. The business has a fifty day simple moving average of $196.61 and a 200-day simple moving average of $178.86. Simpson Manufacturing has a 52 week low of $117.08 and a 52 week high of $218.38. The firm has a market cap of $7.20 billion, a P/E ratio of 21.25 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). The business had revenue of $530.58 million for the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. On average, equities analysts expect that Simpson Manufacturing will post 8.74 earnings per share for the current year.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the transaction, the executive vice president now directly owns 28,764 shares of the company’s stock, valued at $5,697,573.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the sale, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Phillip Burton sold 2,000 shares of Simpson Manufacturing stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at $854,861.16. The disclosure for this sale can be found here. Insiders have sold 3,784 shares of company stock valued at $770,924 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

Institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. purchased a new position in Simpson Manufacturing in the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at $37,000. Headlands Technologies LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter valued at $37,000. GAMMA Investing LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth $35,000. Finally, Arlington Trust Co LLC acquired a new stake in Simpson Manufacturing during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

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.