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

StockNews.com cut shares of Simpson Manufacturing (NYSE:SSD) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird increased their price objective on Simpson Manufacturing from $198.00 to $205.00 and gave the company an outperform rating in a report on Tuesday, February 6th.

Simpson Manufacturing Trading Up 1.5 %

SSD opened at $202.91 on Wednesday. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 24.57 and a beta of 1.31. The stock’s 50 day moving average price is $195.48 and its 200-day moving average price is $173.50. Simpson Manufacturing has a one year low of $102.13 and a one year high of $218.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 5th. The construction company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). The firm had revenue of $501.70 million during the quarter, compared to the consensus estimate of $482.98 million. Simpson Manufacturing had a return on equity of 22.06% and a net margin of 15.99%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.35 EPS. On average, equities analysts forecast that Simpson Manufacturing will post 8.74 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, April 4th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.53%. Simpson Manufacturing’s dividend payout ratio is presently 13.08%.

Insider Activity at Simpson Manufacturing

In related news, EVP Roger Dankel sold 850 shares of Simpson Manufacturing stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the completion of the transaction, the executive vice president now owns 27,330 shares in the company, valued at approximately $5,033,092.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Roger Dankel sold 850 shares of Simpson Manufacturing stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the completion of the transaction, the executive vice president now owns 27,330 shares in the company, valued at approximately $5,033,092.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now 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 sold a total of 4,634 shares of company stock worth $927,460 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

Several large investors have recently bought and sold shares of SSD. Xponance Inc. boosted its holdings in shares of Simpson Manufacturing by 1.1% during the 4th quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock worth $1,231,000 after purchasing an additional 67 shares during the last quarter. Cim Investment Management Inc. increased its position in shares of Simpson Manufacturing by 3.6% during the first quarter. Cim Investment Management Inc. now owns 2,905 shares of the construction company’s stock worth $319,000 after acquiring an additional 100 shares during the period. Zacks Investment Management increased its holdings in Simpson Manufacturing by 0.7% in the second quarter. Zacks Investment Management now owns 15,878 shares of the construction company’s stock valued at $2,199,000 after buying an additional 106 shares during the last quarter. KB Financial Partners LLC increased its holdings in Simpson Manufacturing by 1.5% in the second quarter. KB Financial Partners LLC now owns 7,494 shares of the construction company’s stock valued at $1,038,000 after buying an additional 108 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Simpson Manufacturing by 36.1% during the third quarter. Signaturefd LLC now owns 415 shares of the construction company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. 93.68% of the stock is currently 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.