Simpson Manufacturing Co. (SSD) Shares Down 2.7%
Shares of Simpson Manufacturing Co. (NYSE:SSD) dropped 2.7% during trading on Friday . The stock traded as low as $39.45 and last traded at $40.43, with a volume of 114,245 shares traded. The stock had previously closed at $41.54.
Separately, Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
The company has a market cap of $1.97 billion and a P/E ratio of 25.19. The firm’s 50-day moving average price is $39.98 and its 200 day moving average price is $37.02.
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 analysts’ consensus estimates of $0.49 by $0.05. The company earned $230 million during the quarter, compared to analyst estimates of $227.12 million. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Equities research analysts expect 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. Investors of record on Saturday, October 8th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, October 5th.
In related news, insider Psb Fund Simpson sold 2,420 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $38.16, for a total transaction of $92,347.20. Following the completion of the sale, the insider now directly owns 1,625,850 shares of the company’s stock, valued at $62,042,436. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Sharon H. Simpson sold 48,083 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $38.07, for a total transaction of $1,830,519.81. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in SSD. Whittier Trust Co. raised its stake in Simpson Manufacturing by 1.1% in the fourth quarter. Whittier Trust Co. now owns 32,060 shares of the company’s stock valued at $1,095,000 after buying an additional 334 shares in the last quarter. Morgan Stanley raised its stake 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 in the last quarter. State Board of Administration of Florida Retirement System raised its stake in 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 valued at $1,290,000 after buying an additional 3,813 shares in the last quarter. Rhumbline Advisers raised its stake 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 in the last quarter. Finally, California State Teachers Retirement System raised its stake in Simpson Manufacturing by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 78,094 shares of the company’s stock valued at $2,667,000 after buying an additional 1,276 shares in 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, fasteners and lateral systems used in light-frame construction. The Company 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.