Simpson Manufacturing (NYSE:SSD) Announces Quarterly Earnings Results

Simpson Manufacturing (NYSE:SSD) announced its quarterly earnings data on Monday. The construction company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.37, FiscalAI reports. The firm had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%.

Simpson Manufacturing Stock Down 0.5%

SSD stock traded down $1.06 during mid-day trading on Monday, reaching $192.82. 262,302 shares of the company traded hands, compared to its average volume of 292,855. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 22.60 and a beta of 1.30. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. Simpson Manufacturing has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The firm’s 50 day moving average price is $192.35 and its 200 day moving average price is $186.81.

Simpson Manufacturing Announces Dividend

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. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.07%.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in shares of Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after buying an additional 57 shares during the last quarter. SkyView Investment Advisors LLC raised its position in Simpson Manufacturing by 0.6% in the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock valued at $1,981,000 after buying an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Simpson Manufacturing by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after buying an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Simpson Manufacturing by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,613 shares of the construction company’s stock valued at $422,000 after acquiring an additional 92 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SSD. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Stifel Nicolaus increased 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. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stephens boosted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Finally, DA Davidson increased their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.75.

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.