Simpson Manufacturing (NYSE:SSD) Cut to Hold at Wall Street Zen

Simpson Manufacturing (NYSE:SSD) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

A number of other equities research analysts have also recently commented on SSD. DA Davidson raised their price objective on Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Stephens set a $200.00 target price on Simpson Manufacturing in a research report on Tuesday, February 10th. Weiss Ratings cut Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, Robert W. Baird set a $222.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Simpson Manufacturing currently has an average rating of “Hold” and a consensus price target of $207.33.

Simpson Manufacturing Stock Down 1.3%

Shares of NYSE SSD opened at $186.18 on Friday. The firm has a market cap of $7.71 billion, a PE ratio of 22.57 and a beta of 1.35. Simpson Manufacturing has a 12-month low of $137.35 and a 12-month high of $211.98. The company’s fifty day simple moving average is $186.51 and its 200 day simple moving average is $178.90. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18.

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

Insider Activity

In related news, Director Philip E. Donaldson sold 2,375 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $168.16, for a total transaction of $399,380.00. Following the transaction, the director owned 6,086 shares of the company’s stock, valued at $1,023,421.76. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simpson Manufacturing

Several large investors have recently bought and sold shares of SSD. EverSource Wealth Advisors LLC grew its stake in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after acquiring an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new position in Simpson Manufacturing during the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Simpson Manufacturing during the third quarter worth about $34,000. 93.68% of the stock is currently owned by 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.