DA Davidson Has Negative Outlook for SSD FY2024 Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for Simpson Manufacturing in a research note issued to investors on Tuesday, October 22nd. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings per share of $7.55 for the year, down from their prior estimate of $8.10. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $7.55 per share. DA Davidson also issued estimates for Simpson Manufacturing’s Q4 2024 earnings at $1.27 EPS.

Separately, Robert W. Baird raised their price target on Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a report on Monday.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $181.96 on Wednesday. The business’s 50-day simple moving average is $184.45 and its 200 day simple moving average is $178.04. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 24.04 and a beta of 1.32. Simpson Manufacturing has a 12-month low of $124.50 and a 12-month high of $218.38. The company has a quick ratio of 2.21, a current ratio of 3.53 and a debt-to-equity ratio of 0.24.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). The firm had revenue of $587.15 million during the quarter, compared to the consensus estimate of $589.00 million. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. Simpson Manufacturing’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 EPS.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jennifer Lutz sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $175.58, for a total transaction of $175,580.00. Following the transaction, the executive vice president now owns 4,033 shares in the company, valued at approximately $708,114.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jennifer Lutz sold 1,000 shares of Simpson Manufacturing stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $175.58, for a total transaction of $175,580.00. Following the transaction, the executive vice president now owns 4,033 shares in the company, valued at $708,114.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James S. Andrasick sold 500 shares of Simpson Manufacturing stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total value of $89,375.00. Following the transaction, the director now owns 866 shares in the company, valued at $154,797.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,571 shares of company stock worth $2,348,027. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors have recently modified their holdings of SSD. EntryPoint Capital LLC acquired a new stake in Simpson Manufacturing in the 1st quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Simpson Manufacturing in the 3rd quarter valued at approximately $34,000. Benjamin F. Edwards & Company Inc. raised its position in Simpson Manufacturing by 550.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company’s stock valued at $45,000 after buying an additional 187 shares during the last quarter. CWM LLC raised its position in Simpson Manufacturing by 50.2% in the 1st quarter. CWM LLC now owns 323 shares of the construction company’s stock valued at $66,000 after buying an additional 108 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Simpson Manufacturing by 93.9% in the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after buying an additional 184 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

About Simpson Manufacturing

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.