Simpson Manufacturing Company, Inc. (NYSE:SSD) Stock Has Average Price Target of $216.25 According to Brokerages

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been given an average rating of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $216.25.

A number of analysts recently commented on SSD shares. Stifel Nicolaus upped their price objective on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Stephens lifted their target price on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th.

Simpson Manufacturing Stock Down 0.7%

NYSE:SSD opened at $173.80 on Friday. The firm’s 50-day moving average price is $185.11 and its 200-day moving average price is $185.32. Simpson Manufacturing has a 1-year low of $156.32 and a 1-year high of $213.49. The company has a market capitalization of $7.15 billion, a PE ratio of 18.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.72 by $0.37. The company had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. Simpson Manufacturing’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 EPS. On average, equities analysts predict that Simpson Manufacturing will post 9.14 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s payout ratio is currently 13.11%.

Insider Buying and Selling

In other Simpson Manufacturing news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the completion of the transaction, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at $8,883,630.32. This trade represents a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Caitlin John LLC purchased a new stake in Simpson Manufacturing during the second quarter valued at approximately $27,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Simpson Manufacturing in the 1st quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Simpson Manufacturing during the 2nd quarter valued at approximately $61,000. Fiduciary Financial Advisors purchased a new stake in Simpson Manufacturing during the 2nd quarter valued at $76,000. Finally, Versant Capital Management Inc raised its holdings in Simpson Manufacturing by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 387 shares of the construction company’s stock valued at $81,000 after buying an additional 114 shares during the period. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.