Zacks Investment Research cut shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
According to Zacks, “Simpson Manufacturing Company Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products and software solutions, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials. “
Other analysts have also recently issued reports about the company. Robert W. Baird restated a buy rating and issued a $64.00 target price on shares of Simpson Manufacturing in a report on Tuesday, January 9th. Sidoti initiated coverage on Simpson Manufacturing in a report on Wednesday, January 3rd. They issued a neutral rating and a $66.00 target price for the company. Finally, DA Davidson cut Simpson Manufacturing from a buy rating to a neutral rating and set a $60.00 target price for the company. in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $63.75.
Shares of NYSE:SSD opened at $56.30 on Wednesday. The firm has a market capitalization of $2,632.09, a price-to-earnings ratio of 28.43, a P/E/G ratio of 4.24 and a beta of 1.48. Simpson Manufacturing has a 52-week low of $39.82 and a 52-week high of $61.62.
Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, February 5th. The construction company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). The company had revenue of $231.68 million during the quarter, compared to analysts’ expectations of $224.47 million. Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.64%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. equities research analysts anticipate that Simpson Manufacturing will post 2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, April 4th. Simpson Manufacturing’s dividend payout ratio is presently 42.42%.
In other news, insider Psb Fund Simpson sold 253,749 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $57.64, for a total transaction of $14,626,092.36. Following the completion of the transaction, the insider now directly owns 719,269 shares in the company, valued at approximately $41,458,665.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sharon H. Simpson sold 122,841 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $58.90, for a total value of $7,235,334.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,164,631 shares of company stock valued at $67,882,970. Company insiders own 0.39% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSD. Macquarie Group Ltd. purchased a new position in shares of Simpson Manufacturing during the 3rd quarter worth $103,000. Renaissance Technologies LLC purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth $207,000. Shelton Capital Management purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth $209,000. Xact Kapitalforvaltning AB purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth $220,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth $229,000. Institutional investors and hedge funds own 88.52% of the company’s stock.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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