FY2024 EPS Estimates for Simpson Manufacturing Co., Inc. Lowered by DA Davidson (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Stock analysts at DA Davidson dropped their FY2024 earnings estimates for shares of Simpson Manufacturing in a research report issued on Tuesday, April 23rd. DA Davidson analyst K. Yinger now anticipates that the construction company will earn $8.44 per share for the year, down from their previous forecast of $8.74. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share.

Several other research firms have also issued reports on SSD. Robert W. Baird increased their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Wednesday.

Simpson Manufacturing Trading Up 0.7 %

Simpson Manufacturing stock opened at $170.80 on Thursday. The firm has a 50 day moving average of $196.11 and a 200 day moving average of $178.81. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 21.40 and a beta of 1.30. Simpson Manufacturing has a 12-month low of $117.08 and a 12-month high of $218.38. The company has a current ratio of 3.77, a quick ratio of 2.11 and a debt-to-equity ratio of 0.26.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 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 analysts’ expectations of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. Simpson Manufacturing’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS.

Institutional Trading of Simpson Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of SSD. Contravisory Investment Management Inc. purchased a new stake in Simpson Manufacturing in the fourth quarter worth $29,000. Rise Advisors LLC purchased a new position in shares of Simpson Manufacturing during the first quarter valued at $37,000. Headlands Technologies LLC purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at $37,000. GAMMA Investing LLC purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at $35,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Simpson Manufacturing during the third quarter valued at $31,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Roger Dankel sold 850 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $5,697,573.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jennifer Chatman sold 934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now owns 14,638 shares in the company, valued at approximately $2,817,522.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Roger Dankel sold 850 shares of the 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 owns 28,764 shares in the company, valued at approximately $5,697,573.12. The disclosure for this sale can be found here. Insiders sold 3,784 shares of company stock worth $770,924 in the last three months. 0.42% of the stock is owned by company insiders.

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.