Simpson Manufacturing (NYSE:SSD) PT Raised to $215.00

Simpson Manufacturing (NYSE:SSD) had its price objective increased by equities researchers at Robert W. Baird from $205.00 to $215.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 16.61% from the company’s current price.

Separately, StockNews.com lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th.

Simpson Manufacturing Stock Up 1.3 %

SSD opened at $184.37 on Thursday. The company has a quick ratio of 2.11, a current ratio of 3.63 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $197.56 and a 200-day moving average price of $178.01. Simpson Manufacturing has a twelve month low of $111.29 and a twelve month high of $218.38. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 22.32 and a beta of 1.30.

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

Insider Activity at Simpson Manufacturing

In related news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $184.16, for a total transaction of $156,536.00. Following the completion of the sale, the executive vice president now directly owns 27,330 shares in the company, valued at $5,033,092.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were 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 directly owns 27,330 shares in the company, valued at $5,033,092.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jennifer Chatman sold 934 shares of the company’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 transaction of $179,776.32. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 4,634 shares of company stock worth $927,460. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simpson Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. boosted its position in shares of Simpson Manufacturing by 1.1% during the fourth quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock worth $1,231,000 after acquiring an additional 67 shares during the last quarter. Cim Investment Management Inc. boosted 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 last quarter. Zacks Investment Management boosted its position in shares of Simpson Manufacturing by 0.7% during the second quarter. Zacks Investment Management now owns 15,878 shares of the construction company’s stock worth $2,199,000 after acquiring an additional 106 shares during the last quarter. CWM LLC boosted its position in shares of Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after acquiring an additional 108 shares during the last quarter. Finally, KB Financial Partners LLC boosted its position in shares of Simpson Manufacturing by 1.5% during the second quarter. KB Financial Partners LLC now owns 7,494 shares of the construction company’s stock worth $1,038,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

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.