Simpson Manufacturing (NYSE:SSD) Price Target Raised to $218.00

Simpson Manufacturing (NYSE:SSD) had its price target raised by Stifel Nicolaus from $217.00 to $218.00 in a report published on Monday, MarketBeat reports. They currently have a buy rating on the construction company’s stock.

A number of other brokerages have also commented on SSD. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Robert W. Baird upped their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. DA Davidson increased their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Finally, Stephens boosted their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $216.25.

Simpson Manufacturing Stock Up 0.4%

Shares of SSD stock opened at $197.29 on Monday. The company’s fifty day simple moving average is $193.54 and its two-hundred day simple moving average is $187.66. Simpson Manufacturing has a 52 week low of $156.32 and a 52 week high of $213.49. The stock has a market cap of $8.12 billion, a P/E ratio of 21.56 and a beta of 1.31. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. During the same quarter last year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts predict that Simpson Manufacturing will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is 13.11%.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after buying an additional 672,402 shares during the period. Norges Bank bought a new position in Simpson Manufacturing in the 4th quarter worth about $85,140,000. Victory Capital Management Inc. grew its stake in Simpson Manufacturing by 6,234.7% in the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock worth $64,257,000 after acquiring an additional 391,665 shares in the last quarter. Capital International Investors increased its position in shares of Simpson Manufacturing by 93.7% during the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after acquiring an additional 320,870 shares during the period. Finally, ValueAct Holdings L.P. increased its position in shares of Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after acquiring an additional 264,200 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Company Profile

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.