Simpson Manufacturing Co. (SSD) Reaches New 12-Month High at $42.22
Simpson Manufacturing Co. (NYSE:SSD) shares hit a new 52-week high during trading on Friday . The stock traded as high as $42.22 and last traded at $42.02, with a volume of 65,144 shares traded. The stock had previously closed at $42.01.
Separately, Zacks Investment Research raised Simpson Manufacturing from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, April 26th.
The company has a 50-day moving average of $41.10 and a 200 day moving average of $38.07. The firm has a market cap of $2.03 billion and a P/E ratio of 25.95.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Thursday, July 28th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The business earned $230 million during the quarter, compared to analyst estimates of $227.12 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Simpson Manufacturing Co. will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Saturday, October 8th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.71%.
An institutional investor recently raised its position in Simpson Manufacturing stock. Morgan Stanley boosted its stake in Simpson Manufacturing Co. (NYSE:SSD) by 104.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,225 shares of the company’s stock after buying an additional 19,005 shares during the period. Morgan Stanley owned approximately 0.08% of Simpson Manufacturing worth $1,271,000 at the end of the most recent reporting 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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