Simpson Manufacturing Co. (SSD) Reaches New 1-Year High at $41.71
Simpson Manufacturing Co. (NYSE:SSD)’s share price reached a new 52-week high on Friday . The company 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 upgraded Simpson Manufacturing from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a report on Tuesday, April 26th.
The stock has a 50-day moving average of $40.29 and a 200-day moving average of $37.32. The stock has a market cap of $2.01 billion and a PE ratio of 25.62.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The firm had revenue of $230 million for the quarter, compared to analyst estimates of $227.12 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts forecast that Simpson Manufacturing Co. will post $1.74 earnings per share 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.72 annualized dividend and a yield of 1.73%.
In related news, insider Psb Fund Simpson sold 2,420 shares of Simpson Manufacturing stock in a transaction on 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 $62,042,436. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Other institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at about $9,667,000. Principal Financial Group Inc. boosted its position in 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. Wells Fargo & Company MN boosted its position in 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. Morgan Stanley boosted its position in 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, Rhumbline Advisers boosted its position in 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.
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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