Simpson Manufacturing Co. (SSD) Hits New 12-Month High at $41.65
Simpson Manufacturing Co. (NYSE:SSD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.65 and last traded at $41.30, with a volume of 15,425 shares changing hands. The stock had previously closed at $41.39.
Separately, Zacks Investment Research upgraded shares of Simpson Manufacturing from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Tuesday, April 26th.
The firm’s 50-day moving average is $39.95 and its 200-day moving average is $36.95. The firm has a market capitalization of $1.95 billion and a P/E ratio of 26.52.
Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Thursday, July 28th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. During the same period last year, the business earned $0.43 earnings per share. The firm earned $230 million during the quarter, compared to the consensus estimate of $227.12 million. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Simpson Manufacturing Co. will post $1.69 earnings per share for the current year.
In related news, major shareholder Sharon H. Simpson sold 48,083 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $38.07, for a total value of $1,830,519.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Psb Fund Simpson sold 2,420 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $38.16, for a total value of $92,347.20. Following the completion of the transaction, the insider now directly owns 1,625,850 shares of the company’s stock, valued at $62,042,436. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted 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. Marshall Wace LLP bought a new position in shares of Simpson Manufacturing during the fourth quarter worth about $9,667,000. Principal Financial Group Inc. boosted 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 worth $9,546,000 after buying an additional 16,805 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Simpson Manufacturing by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 78,094 shares of the company’s stock worth $2,667,000 after buying an additional 1,276 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Simpson Manufacturing by 4.3% in the fourth quarter. Rhumbline Advisers now owns 67,777 shares of the company’s stock worth $2,315,000 after buying an additional 2,780 shares during the last quarter.
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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