Simpson Manufacturing Co, Inc. (NYSE:SSD) has earned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. Simpson Manufacturing’s rating score has improved by 22.3% from three months ago as a result of a number of analysts’ ratings changes.
Analysts have set a 12 month consensus price objective of $63.33 for the company and are anticipating that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Simpson Manufacturing an industry rank of 157 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently commented on SSD. DA Davidson downgraded shares of Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Thursday, December 14th. Robert W. Baird reissued a “buy” rating and issued a $64.00 target price on shares of Simpson Manufacturing in a research note on Tuesday. Finally, Sidoti began coverage on shares of Simpson Manufacturing in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $66.00 target price on the stock.
Simpson Manufacturing (SSD) traded up $1.14 during trading hours on Friday, reaching $58.92. 307,600 shares of the company’s stock were exchanged, compared to its average volume of 239,413. The stock has a market capitalization of $2,730.00, a P/E ratio of 29.02, a P/E/G ratio of 4.63 and a beta of 1.53. Simpson Manufacturing has a 12 month low of $39.82 and a 12 month high of $61.62.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, January 3rd. Simpson Manufacturing’s dividend payout ratio is presently 41.38%.
In related news, major shareholder Sharon H. Simpson sold 11,962 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $49.05, for a total transaction of $586,736.10. Following the completion of the sale, the insider now directly owns 769,504 shares of the company’s stock, valued at approximately $37,744,171.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sharon H. Simpson sold 29,314 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $57.76, for a total transaction of $1,693,176.64. The disclosure for this sale can be found here. In the last three months, insiders sold 729,704 shares of company stock worth $38,410,867. Insiders own 0.36% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aurora Investment Counsel acquired a new stake in Simpson Manufacturing during the 4th quarter valued at $2,858,000. Dean Investment Associates LLC grew its holdings in Simpson Manufacturing by 36.2% during the 3rd quarter. Dean Investment Associates LLC now owns 153,990 shares of the construction company’s stock valued at $7,552,000 after purchasing an additional 40,940 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in Simpson Manufacturing during the 3rd quarter valued at $230,000. California Public Employees Retirement System grew its holdings in Simpson Manufacturing by 13.3% during the 3rd quarter. California Public Employees Retirement System now owns 85,188 shares of the construction company’s stock valued at $4,178,000 after purchasing an additional 9,988 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Simpson Manufacturing by 16.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,941,044 shares of the construction company’s stock valued at $95,189,000 after purchasing an additional 277,496 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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