Brokerages forecast that Simpson Manufacturing Co, Inc. (NYSE:SSD) will announce $324.33 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Simpson Manufacturing’s earnings. The highest sales estimate is $333.56 million and the lowest is $315.10 million. Simpson Manufacturing reported sales of $308.01 million during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is expected to announce its next earnings report on Monday, July 29th.
According to Zacks, analysts expect that Simpson Manufacturing will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.14 billion to $1.16 billion. For the next financial year, analysts forecast that the business will post sales of $1.22 billion, with estimates ranging from $1.21 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Simpson Manufacturing.
Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, April 29th. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Simpson Manufacturing had a net margin of 11.59% and a return on equity of 15.05%. The company had revenue of $259.20 million for the quarter, compared to analysts’ expectations of $255.80 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year.
Separately, Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th.
In other Simpson Manufacturing news, Director Greenway Robin Macgillivray sold 1,475 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $61.56, for a total value of $90,801.00. Following the transaction, the director now owns 12,470 shares in the company, valued at $767,653.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Simpson Manufacturing during the 4th quarter worth about $26,408,000. JPMorgan Chase & Co. raised its position in Simpson Manufacturing by 194.8% during the first quarter. JPMorgan Chase & Co. now owns 586,216 shares of the construction company’s stock valued at $34,745,000 after purchasing an additional 387,368 shares in the last quarter. Atlanta Capital Management Co. L L C raised its position in Simpson Manufacturing by 44.0% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 459,079 shares of the construction company’s stock valued at $24,850,000 after purchasing an additional 140,333 shares in the last quarter. Wells Fargo & Company MN raised its position in Simpson Manufacturing by 10.1% during the first quarter. Wells Fargo & Company MN now owns 1,230,975 shares of the construction company’s stock valued at $72,959,000 after purchasing an additional 112,651 shares in the last quarter. Finally, Millennium Management LLC raised its position in Simpson Manufacturing by 41.0% during the fourth quarter. Millennium Management LLC now owns 324,244 shares of the construction company’s stock valued at $17,551,000 after purchasing an additional 94,358 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.
SSD stock traded up $0.69 during midday trading on Friday, hitting $65.29. 2,220 shares of the company’s stock were exchanged, compared to its average volume of 155,988. The business has a 50 day moving average of $64.48. The firm has a market capitalization of $2.90 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.49. Simpson Manufacturing has a 12-month low of $49.54 and a 12-month high of $78.36.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Wednesday, July 3rd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.22. Simpson Manufacturing’s payout ratio is 30.45%.
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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.
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