Simpson Manufacturing Co. (SSD) Sets New 52-Week High at $42.02
Simpson Manufacturing Co. (NYSE:SSD)’s share price hit a new 52-week high during mid-day trading on Thursday . The company 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 raised shares of Simpson Manufacturing from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, April 26th.
The stock has a market cap of $2.02 billion and a P/E ratio of 25.78. The firm has a 50-day moving average price of $40.64 and a 200 day moving average price of $37.71.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. During the same period last year, the company posted $0.43 EPS. The firm had revenue of $230 million for the quarter, compared to the consensus estimate of $227.12 million. The business’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 year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Saturday, October 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 5th.
Several hedge funds have recently modified their holdings of SSD. Marshall Wace LLP purchased a new stake in shares of Simpson Manufacturing during the fourth quarter worth $9,667,000. Wells Fargo & Company MN increased 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. Morgan Stanley increased 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, Rhumbline Advisers increased 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.
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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