Simpson Manufacturing Co. (SSD) Sets New 12-Month High at $42.02
Simpson Manufacturing Co. (NYSE:SSD)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $42.02 and last traded at $41.94, with a volume of 28,999 shares changing hands. The stock had previously closed at $41.71.
Separately, Zacks Investment Research downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
The stock has a market cap of $2.03 billion and a PE ratio of 25.87. The stock has a 50 day moving average of $40.50 and a 200 day moving average of $37.60.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Thursday, July 28th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. During the same period in the previous year, the company earned $0.43 earnings per share. The firm earned $230 million during the quarter, compared to analyst estimates of $227.12 million. Simpson Manufacturing’s revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that Simpson Manufacturing Co. will post $1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Saturday, October 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 5th.
Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in 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 last quarter. Rhumbline Advisers increased its position in Simpson Manufacturing by 4.3% in the fourth quarter. Rhumbline Advisers now owns 67,777 shares of the company’s stock valued at $2,315,000 after buying an additional 2,780 shares during the last quarter. Principal Financial Group Inc. increased 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 valued at $9,546,000 after buying an additional 16,805 shares during the last quarter. Marshall Wace LLP purchased a new position in Simpson Manufacturing during the fourth quarter valued at about $9,667,000. Finally, Wells Fargo & Company MN increased 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 valued at $31,883,000 after buying an additional 36,746 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 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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