Simpson Manufacturing (NYSE:SSD) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Simpson Manufacturing (NYSE:SSD) from a buy rating to a hold rating in a report published on Thursday.

Separately, Robert W. Baird increased their price target on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, April 18th.

Simpson Manufacturing Stock Up 1.6 %

Shares of NYSE SSD opened at $181.05 on Thursday. The firm has a fifty day simple moving average of $193.89 and a two-hundred day simple moving average of $180.65. The firm has a market capitalization of $7.69 billion, a PE ratio of 22.69 and a beta of 1.33. The company has a current ratio of 3.77, a quick ratio of 2.19 and a debt-to-equity ratio of 0.26. Simpson Manufacturing has a 12 month low of $117.08 and a 12 month high of $218.38.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). The company had revenue of $530.58 million during the quarter, compared to analysts’ expectations of $549.87 million. Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. Equities analysts expect that Simpson Manufacturing will post 8.44 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 4th will be issued a $0.28 dividend. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.04%.

Insider Transactions at Simpson Manufacturing

In related news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now directly owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Roger Dankel sold 850 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total value of $168,368.00. Following the sale, the executive vice president now directly owns 28,764 shares in the company, valued at $5,697,573.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the sale, the director now directly owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The disclosure for this sale can be found here. Insiders have sold 3,784 shares of company stock worth $770,924 in the last 90 days. 0.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simpson Manufacturing

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Simpson Manufacturing during the 3rd quarter worth approximately $137,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Simpson Manufacturing during the third quarter worth $98,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Simpson Manufacturing by 10.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,750 shares of the construction company’s stock valued at $861,000 after purchasing an additional 527 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Simpson Manufacturing by 19.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,135 shares of the construction company’s stock worth $1,369,000 after purchasing an additional 1,507 shares in the last quarter. Finally, Strs Ohio grew its stake in Simpson Manufacturing by 83.3% during the 3rd quarter. Strs Ohio now owns 12,100 shares of the construction company’s stock worth $1,812,000 after buying an additional 5,500 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.