Simpson Manufacturing Company, Inc. (NYSE:SSD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $214.75.

SSD has been the subject of a number of research analyst reports. Robert W. Baird boosted their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stephens boosted their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Stifel Nicolaus boosted their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, DA Davidson boosted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th.

Hedge Funds Weigh In On Simpson Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Simpson Manufacturing by 322.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after purchasing an additional 129 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing in the 4th quarter worth about $28,000. Los Angeles Capital Management LLC acquired a new position in Simpson Manufacturing in the 4th quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Simpson Manufacturing in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $185.26 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. Simpson Manufacturing has a fifty-two week low of $151.38 and a fifty-two week high of $211.98. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 21.72 and a beta of 1.34. The stock has a fifty day moving average price of $178.78 and a 200-day moving average price of $178.28.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The company had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the previous year, the firm earned $1.85 EPS. Simpson Manufacturing’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Simpson Manufacturing will post 9.18 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s payout ratio is presently 13.60%.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.