Simpson Manufacturing (NYSE:SSD) Receives Neutral Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of Simpson Manufacturing (NYSE:SSD) in a report released on Tuesday morning,Benzinga reports. They currently have a $190.00 price objective on the construction company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird boosted their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.00.

Simpson Manufacturing Stock Up 6.1%

Shares of Simpson Manufacturing stock opened at $186.61 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $180.89 and its two-hundred day simple moving average is $168.69. The company has a market cap of $7.77 billion, a P/E ratio of 22.73 and a beta of 1.28. Simpson Manufacturing has a 12-month low of $137.35 and a 12-month high of $197.82.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.21. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.46%. The firm had revenue of $623.51 million for the quarter, compared to analysts’ expectations of $607.79 million. During the same quarter in the previous year, the business posted $2.21 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that Simpson Manufacturing will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Shareholders of record on Friday, January 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.13%.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president owned 7,810 shares of the company’s stock, valued at $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Simpson Manufacturing by 0.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,534,724 shares of the construction company’s stock valued at $712,314,000 after acquiring an additional 40,461 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Simpson Manufacturing by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,747,872 shares of the construction company’s stock valued at $274,556,000 after acquiring an additional 30,614 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Simpson Manufacturing by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 693,775 shares of the construction company’s stock valued at $107,750,000 after acquiring an additional 20,240 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Simpson Manufacturing by 8.0% during the 1st quarter. Ameriprise Financial Inc. now owns 627,696 shares of the construction company’s stock valued at $98,602,000 after acquiring an additional 46,290 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Simpson Manufacturing by 0.7% during the 1st quarter. Northern Trust Corp now owns 556,097 shares of the construction company’s stock valued at $87,352,000 after acquiring an additional 4,111 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

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.