Simpson Manufacturing (NYSE:SSD) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $178.55 and traded as high as $204.51. Simpson Manufacturing shares last traded at $200.0930, with a volume of 151,024 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SSD. DA Davidson boosted their target price on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Stephens set a $200.00 price objective on Simpson Manufacturing in a report on Tuesday, February 10th. Robert W. Baird set a $222.00 target price on Simpson Manufacturing in a report on Tuesday, February 10th. Finally, Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.33.

Simpson Manufacturing Price Performance

The stock has a market cap of $8.30 billion, a PE ratio of 24.25 and a beta of 1.37. The stock’s fifty day moving average is $181.54 and its 200-day moving average is $178.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.54 and a quick ratio of 1.99.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The company had revenue of $539.35 million for the quarter, compared to analyst estimates of $530.70 million. During the same period in the previous year, the business posted $1.31 EPS. Simpson Manufacturing’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.06%.

Insider Transactions at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the transaction, the director owned 6,086 shares of the company’s stock, valued at $1,023,421.76. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of Simpson Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in Simpson Manufacturing by 11,044.7% during the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after buying an additional 672,402 shares during the period. Norges Bank acquired a new position in shares of Simpson Manufacturing in the 4th quarter worth approximately $85,140,000. Victory Capital Management Inc. lifted its holdings in shares of Simpson Manufacturing by 6,234.7% in the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock worth $64,257,000 after acquiring an additional 391,665 shares during the last quarter. Capital International Investors boosted its position in shares of Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after purchasing an additional 320,870 shares during the period. Finally, ValueAct Holdings L.P. increased its holdings in Simpson Manufacturing by 21.9% in the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after purchasing an additional 264,200 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.