Simpson Manufacturing Co. (SSD) Hits New 52-Week High at $41.71
Simpson Manufacturing Co. (NYSE:SSD) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $41.71 and last traded at $41.65, with a volume of 29,830 shares. The stock had previously closed at $40.99.
Separately, Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th.
The company’s 50 day moving average is $40.22 and its 200 day moving average is $37.29. The stock has a market capitalization of $2.01 billion and a P/E ratio of 25.62.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Thursday, July 28th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.05. The business earned $230 million during the quarter, compared to analysts’ expectations of $227.12 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Simpson Manufacturing’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts expect that Simpson Manufacturing Co. will post $1.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Saturday, October 8th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.72 annualized dividend and a dividend yield of 1.73%.
In other news, insider Psb Fund Simpson sold 2,420 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $38.16, for a total transaction 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 approximately $62,042,436. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Several hedge funds have recently made changes to their positions in SSD. Rhumbline Advisers boosted its stake 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 period. State Board of Administration of Florida Retirement System boosted its stake in shares of Simpson Manufacturing by 11.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 37,761 shares of the company’s stock worth $1,290,000 after buying an additional 3,813 shares during the period. Principal Financial Group Inc. boosted its stake 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 period. Morgan Stanley boosted its stake in shares of Simpson Manufacturing by 104.3% in the fourth quarter. Morgan Stanley now owns 37,225 shares of the company’s stock worth $1,271,000 after buying an additional 19,005 shares during the period. Finally, Wells Fargo & Company MN boosted its stake 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 worth $31,883,000 after buying an additional 36,746 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 and lateral systems used in light-frame construction. It 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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