Simpson Manufacturing Co. (SSD) Reaches New 1-Year High at $40.55
Simpson Manufacturing Co. (NYSE:SSD) reached a new 52-week high during trading on Friday . The stock traded as high as $40.55 and last traded at $40.49, with a volume of 155,112 shares changing hands. The stock had previously closed at $39.60.
Separately, Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
The stock has a market capitalization of $1.96 billion and a PE ratio of 26.62. The company has a 50-day moving average of $39.21 and a 200-day moving average of $36.27.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Thursday, April 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. The firm earned $199.50 million during the quarter, compared to analysts’ expectations of $186.70 million. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. Equities research analysts forecast that Simpson Manufacturing Co. will post $1.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 7th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, July 5th.
In related news, major shareholder Sharon H. Simpson sold 48,083 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $38.07, for a total value of $1,830,519.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sunny H. Leung sold 988 shares of the company’s stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $38.75, for a total transaction of $38,285.00. Following the completion of the sale, the vice president now directly owns 1,447 shares of the company’s stock, valued at approximately $56,071.25. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in SSD. Marshall Wace LLP bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at $9,667,000. Whittier Trust Co. raised its position in shares of Simpson Manufacturing by 1.1% in the fourth quarter. Whittier Trust Co. now owns 32,060 shares of the company’s stock valued at $1,095,000 after buying an additional 334 shares during the period. Principal Financial Group Inc. raised its position in shares of Simpson Manufacturing by 6.4% in the fourth quarter. Principal Financial Group Inc. now owns 279,516 shares of the company’s stock valued at $9,546,000 after buying an additional 16,805 shares during the period. Wells Fargo & Company MN raised its position in shares of Simpson Manufacturing by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 933,608 shares of the company’s stock valued at $31,883,000 after buying an additional 36,746 shares during the period. Finally, Morgan Stanley raised its position in shares of Simpson Manufacturing by 104.3% in the fourth quarter. Morgan Stanley now owns 37,225 shares of the company’s stock valued at $1,271,000 after buying an additional 19,005 shares during the period.
Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and lateral systems used in light-frame construction. The Company also offers concrete construction products used for concrete, masonry, steel and for concrete repair, protection and strengthening, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforced materials.
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